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Assam tea prices witness sharp fall amid pandemic

Assam tea prices witness sharp fall amid pandemic

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Assam Tea Assam Tea

GUWAHATI: The prices of Assam tea have seen a sharp fall in the last one month. The reason is considered to be a decrease in general demand.

At this week’s auction at the Guwahati Tea Auction Centre (GTAC), 1,35,474 packages of tea went under the hammer and only 69% were sold. The average price at the auction this week was Rs185.90.

Prices of tea had jumped after the auction had resumed on April 23 after a month of lockdown due to low crop. Even old season teas were also readily bought, with western India and North India buyers participating actively in the initial period post lockdown.

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In August, the average price of tea at GTAC was Rs 298.28, which was up by Rs 136.55 when compared to last year’s prices.

The decline in production of tea due to the lockdown is estimated at 32 million kilograms, with the loss incurred by the industry estimated at Rs 600 crore.

The tea production in India during 2019 was 1,389.70 million kg. Tea production in Assam in 2019 was 715.49 million kg, i.e., 51.51 per cent of the total tea production in India.

Due to excess production of lower quality teas the auction prices were down last season. Some teas were even difficult to sell at Rs 50-55.

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