Tea prices have been on the rise at both North and South India auction centres in the last sale of 2024, compared to the previous year. The average prices for orthodox and CTC varieties have seen a significant increase at auction centres in Guwahati, Kolkata, Kochi, Coonoor, and Siliguri.
In the last auctions of 2024, the average price of orthodox leaf saw a notable increase year-on-year, with Guwahati, Kolkata, Kochi, and Coonoor experiencing a rise of 2.5%, 26.5%, 27.4%, and 32.6% respectively. Similarly, CTC leaf prices also surged at auction centres, with Guwahati, Kolkata, Siliguri, Kochi, and Coonoor recording increases of 9%, 10%, 7.2%, 34%, and 32.9% respectively.
The Darjeeling leaf prices saw a significant jump of 45.86% during the last sale at the Kolkata auction centre, reflecting the overall positive trend in tea prices. The increase in prices can be attributed to lower crop production in 2024 due to erratic weather conditions and the early closure of tea gardens.
Overall, the tea industry in India produced around 1255.39 million kg of tea in the January-November period of 2024, compared to approximately 1309.27 million kg in the same period in 2023. This decline in production further contributed to the rise in tea prices in the auction centres across the country.
In conclusion, the tea market in India has witnessed a significant uptick in prices in the last sale of 2024, driven by lower production and strong demand. This trend is expected to continue as we head into the new year, reflecting the resilience and potential of the Indian tea industry.
