Tea companies brew profit amid climate change woes

Tea companies recorded a profit boost in the September quarter, reflecting higher prices as lower production is blamed on the impact of climate change.

- ISHITA AYAN DUTI;

A dry spell followed by erratic rainfall led to a production loss of 76.73 million kg (mkg) compared to the same period last year. North India, which makes for more than 82. (Fo per cent of total production, suffered a loss of 63 mkg to * result in higher bulk tea prices. ™ Data from the Tea Board of Goi India showed that the average E auction price for North India * team up to September 2024-25 ™ was ₹247.33 per kg, a 2398 per cent increase over the same Jal-n period last year.

The average price for South India was ₹126.22 per kg, a 16.19 per cent increase. The average national price, of ₹215.34 per kg, was-up 22.01 per cent.

Sumit Jhunjhunwala, assistant vice-president at ICRA, noted that July-September is a period for quality tea production and hence a better quarter for the industry.