Table of Contents
The News
The Observation
The Observation
- Russia imports over 20% of its total tea requirements from India and the lion’s share of the export is routed through the Cochin Port.
- India’s tea trade with Russia has been almost round the year and Rs 65-70 crore worth of Indian tea goes to Russia every month.
- India exported Rs 589.11 crore worth of tea to Russia in FY21 but uncertainty now looms large on whether the exports could be maintained at this level in the next few months.
The News
- With the ongoing Russia-Ukraine war, Indian tea exporters’ immediate concern is about the delays in payments from the buyers in these two countries and their neighbours for the shipments already made.
- But they are more worried about the prospect of importers from these countries finding it increasingly difficult to place fresh orders, given the steep depreciation of Russian rouble against the US dollar.
Tea Free Fall
What are we doing?
- The Tea Board official said the commerce ministry is taking every measure for consignments enroute Russia, Kazakshan and Ukraine via China, however, no breakthroughs have been achieved as yet.
- Almost all Russian tea importers have an office in Ukraine and it was like a common market which has been badly disrupted.
What are we doing?
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