Shortfall in Kenyan tea production is working favourably for India with exports going up in the month of March by 20%, traders said.
However, according to the figures provided by the Tea Board, exports for January-March 2008 is still marginally lower when compared to the performance of the same period in 2007. India exported 43.25 million kg of tea during the first three months of 2008 as against 44.37 million kg during the same period a year ago. In March 2008, exports jumped up to 16 million kg as against 13.3 million kg in 2007 March.
Exports from South India are marginally lower for the period, while North India has seen an increase of 2 million kg for the same period. Traders see huge opportunities in Egypt for CTC tea in the coming days. The opening of the tea promotional office in Cairo by the Tea Board and UPASI could also help in increasing volumes, sources said.
Meanwhile, production for the January-March period is more or less the same, when compared to the previous year. Production in South India has increased by 7 million kg for the period, while in North India it has fallen short by 6 million kg during the same period. Auction prices are also looking good in the nation with rates of some grades on the rally, Paulose Joseph of Forbes Ewarts and Figgis said.