South Indian tea planters fret over lower price realisation
Michael Chen
Senior Web Developer
Lower realization for South Indian tea despite a fall in production has planters worried. United Planters Association of Southern India (UPASI) has expressed concern that the industry is getting into a crisis mode again due to lower price realisation and rising cost of production. “Prices in South India in 2014 have dropped by R14 when compared to 2013. This is in spite of a shortfall of 22 million kg in all-India production due to extreme weather. Ideally, the prices should move up as the fundamentals support a firmer market. Auction prices are lower when compared to the same period of last year. Further, exports in this calendar year are up by 6.7 million kg and world production is also showing a similar trend as major producing countries have reported substantial drop in production,” Peter Mathias, president, UPASI, told FE.
Mathias wonders why the principle of supply and demand is not working for tea. While there has been reduction in prices at the auction, prices of packet tea sold to consumers have not changed, he said. “If the trend continues, it’ll be difficult for many estates to pay wages and other benefits on time,” he added.
Mathias expressed shock on the reported demand by tea dealers’ association to relax norms to allow import of large quantity of tea. “If one looks at statistics, output has been growing at an average rate of over 4% in 5 years,” he said. The industry has been requesting for government intervention in reducing the gap between price to consumer and price to producer.
Источник: financialexpress.com/news/South-Indian-tea-planters-fret-over-lower-price-realisation/1271365
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