Tea export set to miss target

India may miss the export target of 190 million kgs of tea set for the year 2004 by Indian Tea Association, the apex body of tea manufacturers in the country, if the latest trends are any indication.

According to latest data releasted by Tea Board, the country's exports during the first 10 months (January -October) stood at 142.94 m kgs as against 131.96 m kgs in the corresponding period of previous fiscal.

"Unless something dramatic happens during the balance two months, the possibility of which appears bleak, the target of 190 m kgs is difficult to achieve," industry sources said.

Incidentally, ITA, in its status paper for 2004, 'Indian tea scenario' had said that the country's tea exports would touch 190 m kgs.

The Tea Board data further said that country's tea exports had registered a decline of 14.78 per cent in October at 16.78 m kgs against 19.62 m kgs registered in the same month of previous year.

In fact, tea export had registered a decline during four consecutive months starting July, 2004. Despite that, total export during the first 10 months of 2004 stood higher by 8.32 per cent at 142.94 m kg as against 131.96 m kgs between January and October, 2003.

The Board's data said that tea production in october was up to 99.08 m kg from 95.71 m kgs last year even though cumulative production between January and October was down by 4.95 per cent to 697.19 m kg from 733.50 m kg.