Agri Buzz: Domestic Tea Export Volume Picking Up

capital market | Mumbai | October 05, 2017 17:56 IST

Agri Buzz: Domestic Tea Export Volume Picking Up

Local Tea prices slipped in early September 2017 before witnessing a modest recovery. The All India Tea Auction quotes extended their downward trend and fell to a three month low of Rs 134.68 per kg in first week of September on a continued pick up in local production. The quotes averaged Rs 135.48 per kg in the month, down 1.75% on the same period last year. Average prices in September also witnessed a 2.67% drop compared to August 2017. Total domestic production in January - July 2017 is 598.74 million kgs (mkg), up around 4.20% on year, according to data from the Tea Board of India. Exports are also picking up following good overseas buying. Total Tea exports stood at 121.13 mkg in January- July 2017, up 4.58% on year. However, at Rs 195.10 per kg, the per unit export realizations remained almost unchanged this year. The recent spell of weakness in Indian Rupee, which fell to a six month low around 65.70 per US dollar end September 2017, can help in enhancing the export values.

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