Calcutta, Aug. 12: Tea exports for the first six months of 2007 dropped 11.8 million kg. Export earnings also dipped Rs 9.12 crore.
Kenya, which had a bumper crop this year, reported a 24.7 per cent jump in exports at 151.3 million kg till May this year against 121.4 million kg in the year-ago period.
China also recorded an 8.7 per cent rise in exports at 121 million kg.
Sri Lanka, however, registered a drop in exports at 112 million kg compared with 123.3 million kg because of labour problems.
In India, exports from the north rose to 35 million kg from 33 million kg, while those from the south were down to 39.7 million kg from 54.5 million kg.
Tea auctions in north India saw a rise in volumes for the first half of the year to 116.3 million kg from 114.7 million kg a year ago. This comes at a time when the Tea Board and the commerce ministry are planning to implement the e-auction system. In terms of value, the price slightly declined to Rs 69.72 per kg from Rs 70.79 per kg in the corresponding period of the previous year.
In the south, the volumes dipped to 59.2 million kg from 65.5 million kg. The value, however, improved to Rs 52.58 per kg from Rs 49.26 per kg in the year-ago period.
The rising rupee added to the woe of exporters. Branded tea companies such as Tata Tea have lost around Rs 3 crore on a stand-alone basis and Rs 10 crore on a consolidated basis.
McLeod Russel India, one of the largest tea producers, also expects a drop in exports to around 21 million kg from 25 million kg last fiscal.