Key Points
- Tea prices are up 36% year-on-year this October.
- Production is down by nearly 90 million kgs compared to last year.
- Significant auction price hikes in North and South India.
- Weather issues and pests are major culprits behind reduced production.
- Recent auctions faced delays due to the Puja holidays.
Looma News
Tea prices are on the rise this October, soaring about 36% compared to last year. What’s driving this? A sharp decline in production, about 90 million kgs less than last year, thanks to some wild weather and annoying pests. This means tea is in high demand at auctions.
Breaking it down, North India’s prices jumped over 32% to ₹255.20 per kg, while South India saw an even bigger spike of 54.78% to ₹166.10. In fact, prices at all-India auction centers surged between 35% and 38% in September. It’s clear the tea market is shifting, and buyers are definitely feeling it.
This week’s auction, sale no. 42, is buzzing, but keep in mind that previous sales in Kolkata, Guwahati, and Siliguri were delayed because of the Puja holidays. Keep an eye on these trends, it’ll be interesting to see where the market goes next.
