Low export demand and sluggish rural consumption to dampen tea realisations for North India estates, says ICRA
The all-India production of bulk teas in the first 10 months of CY2023moderated by 22 Mkg (~2%) on a YoY basis and ICRA expects the full-year production to ease by ~1% compared to CY2022. Tea output in Kenya is likely to increase in CY2023 over the previous year, given that their production in 8M CY2023 is already up by ~7% on a YoY basis.
Source: indiatimes.com