Tea Prices May Climb 20% as Lower India Output Widens Shortage
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Tea prices in India, the top grower after China, may climb 20 percent in the next five months as lower output and rising demand worsens a shortage, according to McLeod Russel India Ltd., the largest tea-plantation owner.
Average prices in Assam, which accounts for more than half of production, may reach 180 rupees ($4) per kilogram by April from 150 rupees, Azam Monem, marketing director at McLeod, said in a telephone interview. Pest attacks may reduce the crop by as much as 25 million kilograms to 955 million kilograms, he said.