Indian Tea likely to benefit from wage hike
Indian Tea is likely to gain benefit from wage hike in Sri Lankan plantations and pesticide problems in Vietnam.
India is the second largest producer of Tea in the world and contributes 26% to the global production.
The expected wage hike in Sri Lankan plantations is estimated to help South Indian orthodox production also.
Domestic tea production during 2018 is expected to stay more or less the same as last year despite lower rainfall, while exports are expected to marginally increase.
India’s Tea production for the January-October of 2018 stands at 1,117.6 mkg, against 1,127.2 mkg in the year-ago period. South Indian tea production for 10 months of 2018 stands at 187.6 mkg, against 197.3 mkg in 2017. North Indian Tea production for 10 months of 2018 was 929.98 mkg, against 929.85 mkg in the same period last year. (Commodity online)