Tea exports in March down by half on low overseas demand
10/05/2011 158
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Tea exports declined by nearly half in March this year to 11.90 million kg due to low overseas demand and payment problems from importing countries.
The country had shipped 23.49 million kg of the brew in March, 2010, Tea Board data showed.
During the first quarter of calendar year 2011, exports fell by almost 27 per cent to 39.62 million kg from 53.99 million kg in the year-ago period.
According to industry experts, the slump in exports has been continuing from the end of the last year due to subdued demand from major importing countries and payment problems.
"The exports have been down since the end of last year due to subdued overseas demand and payment problems from Iran and Pakistan due to which exporters have been reluctant to go for further contracts," Indian Tea Association Joint Secretary SujitPatra told PTI.
Source: ptinews.com
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