15% Jump in Tea Exports in FY 2010-11: IKON Survey

15% Jump in Tea Exports in FY 2010-11: IKON Survey
Describing Russia, UAE and UK as the major countries importing Indian tea, a recent survey held by city-based IKON Marketing Consultants said that Indian tea exports have shown nearly 15 per cent growth in financial year 2010-11 and only Sri Lanka and China have better figures than India in the Asian region.

In tea exports, mainly Asian countries are dominating the world market. Asia region enjoys a remarkable share in almost every country's tea imports. Three Asian countries -- Sri Lanka (21.46 per cent), China (12.41 per cent) and India (11 per cent)-- together represent share of almost 45 per cent world tea exports, Azaz Motiwala, CMD of IKON told PTI here.

Among top five export countries, India's ranking in world exports is fourth and represents 11 per cent of world export of tea, he said adding during FY 2010-11 India exported USD 685.56 million of tea witnessing growth of nearly 15 per cent compared to previous year.

Russia, UAE and UK are the major nations that had imported Indian tea, he said.

"Looking at the past performance, India's tea exports are likely to sustain its growth momentum provided it improves the export strategy and makes more availability of export surplus by improving its yield. Indian companies should focus more on marketing, value-added branded tea instead of exporting tea as a commodity," Motiwala said.

The highest tea importing countries are America, Europe and Middle-East. Russia ranks first and represents around 10 per cent global import of tea, the report said adding Sri Lanka, China and India are the major export partners of Russia contributing almost 74 per cent market share together.

While Afghanistan emerged as one of the new potential market registered remarkable growth of 34 per cent in import of tea valued at USD 158 million during 2010, the report added.
Next Story : IT Probe Report on Balakrishnan Submitted to CBDT
Download the Outlook ​Magazines App. Six magazines, wherever you go! Play Store and App Store
Online Casino Betway Banner