Indian tea exports slump to $531 mn during April-November 2023

India saw a slump in its tea export earnings during April-November 2023 amid regulatory challenges in Iran, a large market, and due to the ongoing Ukraine crisis impacting exports to the CIS (Commonwealth of Independent States) and Western European region, latest data from the commerce ministry showed.

- Rhik Kundu 

India exported tea worth $531.63 million between April and November 2023, down from $562 million in the year-ago period, according to official data from the Niryat Portal.

Geopolitical disturbances, especially in Middle East and Ukraine, subdued economic conditions along with a drop in export prices have led to a decline in export earnings for the commodity, experts said.

"We expect about a 10% drop in the total volume oftea exports from India to about 200 million kg during calendar year 2023. This is largely due to lower exports to one of our main markets, Iran, and also due to the Ukraine war, which impacted demand in Western Europe," said Anshuman Kanoria, chairman, of the Indian Tea Exporters Association (ITEA).