Russians have Been Warned of a Rise in Tea Prices Due to a Pandemic in India
OREANDA-NEWS. Tea suppliers on May 17 began notifying retailers in Russia of a possible 12% increase in the price of tea due to the possible closure of a number of large plantations in India during the peak of the pandemic. This was reported by Kommersant with reference to one of the major retailers. India is one of the largest suppliers of tea in the world, but Russia also exports this product.
In particular, the Financial Times on May 16 announced the planned closure of at least 90 plantations in the Indian province of Assam and West Bengal due to the massive infection of workers with coronavirus.
Russia buys mainly black tea - only 10% is green tea, as Ramaz Chanturia, general director of the Rosteakofe association, said.
In 2020, tea production in India reached 1.3 million tons, of which Russia bought 147 thousand tons. Tea harvesting season peaks in June-August, so retail prices may change only in September, Chanturia predicts.
The Ministry of Agriculture of the Russian Federation ruled out the rise in prices and the shortage of tea. Imports from India can be replaced by supplies from other countries, such as Sri Lanka and Kenya. In addition, Russia itself supplies tea - the export of this product increased in 2020 by 3.4% to 21 thousand tons worth $ 106 million. Including supplies of green tea increased by 19% to 3.1 thousand tons worth $ 17 million, black tea - by 1% to 17 thousand tons - in monetary terms, this is $ 89 million.