Tea prices soar as extreme weather slashes output

Mumbai, July 8 India’s tea prices have been soaring and are expected to stay high as heatwaves and floods during the peak harvesting season slash output in key producing regions. India’s tea production in May plunged more than 30% from...

Tribune Web Desk

Updated At : 04:40 PM Jul 09, 2024 IST

Mumbai, July 8

India’s tea prices have been soaring and are expected to stay high as heatwaves and floods during the peak harvesting season slash output in key producing regions.

India’s tea production in May plunged more than 30% from a year earlier to 90.92 million kg, its lowest for that month in more than a decade, hurt by excessive heat and scant rainfall. In the last week of June, average tea prices surged to Rs 217.53 per kg, marking 20% increase from a year before. — Reuters

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