India’s Q1 tea shipments up 17% at $219 million on strong demand

NEW DELHI : India’s April-June quarter tea exports this fiscal registered a 17 per cent growth in value terms at $218.95 million over the same period last year’s $187.38 million on strong demand for the brew from traditional buyers.

During the month of June alone, the tea exports were up 32 per cent at $83.24 million over the same period last year’s $62.76 million, as per the Commerce Ministry’s quick data estimates. In Rupee value terms, the tea exports during Q1 were up by around 20 per cent at ₹1,873.72 crore from the corresponding last period’s ₹1,563 crore. The value of shipments in June was up 36.5 per cent to ₹715.09 crore (₹523.87 crore).

Sources in the exporters fraternity said the uncertainty triggered by the concerns over Iran-Israel war has not had any impact on the Indian tea shipments. Iran is one of the major buyers of Indian tea. “Shipments have been going on to countries like Iran and there has been regular buying,” sources said.