Price rise not enough to balance input costs, says tea industry
Even though average tea prices at the auctions were on the upswing, industry was of the view that the price rise was not commensurate with rising input costs.
KOLKATA: Even though average tea prices at the auctions were on the upswing, industry was of the view that the price rise was not commensurate with rising input costs. Chairman of Dhunseri Tea CK Dhanuka said that input costs had more than doubled during the past10 years. ���It was becoming increasingly difficult for the industry to meet social commitments,��� he said.
Meanwhile, the Indian Tea Association (ITA), the apex body of tea growers in the country, expressed concern over the inadequate rise in tea prices at the auctions. Sources in ITA said that although tea was not considered an essential commodity, the price rise at the auctions was nothing to worry about since the increase was not in sync with the rise in input costs. According to ITA, the average auction prices during the current year was also below the 1998 prices.
Meanwhile, the Indian Tea Association (ITA), the apex body of tea growers in the country, expressed concern over the inadequate rise in tea prices at the auctions. Sources in ITA said that although tea was not considered an essential commodity, the price rise at the auctions was nothing to worry about since the increase was not in sync with the rise in input costs. According to ITA, the average auction prices during the current year was also below the 1998 prices.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
