Tea prices have fallen at North India auction centres due to higher production and increased imports of cheap Kenyan teas.
The quantity of tea sold at auction centres in Guwahati, Siliguri, and Kolkata increased to 51.79 million kgs this year from 39.42 mkg last year during the same period.
Average prices realized in sale nos 24 to 28 showed decreases in the three North India auction centres, with price declines ranging from 2% to 15% year-on-year.
Industry observers attribute the lower prices to the higher quantity of tea sold, increased domestic production, rising imports from Kenya, and concerns about pesticide residue compliance in certain gardens.