By Aravinda Anantharaman | Editor
India Tea News for the week ending April 23, 2024
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Assam Tea Gardens Continue To See Tourism Support
The Assam state government is sticking to its plans to promote tea tourism in Assam, and in 2023, 25 tea estates received funds to promote tea tourism. This week, as part of Phase II, 34 tea estates have received their sanction letters. This will mean they stand to see a financial grant of INR 2,00,00,000 or $270,000 to develop tourism and hospitality infrastructure on their estate. Tourism is hoped to bring in more revenue to manage tea estates. Work on the first phase is ongoing; no further details are available.
Sanjay Singhal Joins Wagh Bakri As CEO
Sanjay Singhal, COO of ITC, has been appointed CEO of the Wagh Bakri Tea Group. Singhal oversaw beverage and dairy during his eight-year stint at ITC. In October 2023, Parag Desai, Executive Director of the Company, passed away unexpectedly after succumbing to injuries from a fall on his morning walk. Wagh Bakri is India’s third-largest packaged tea company, headquartered in Ahmedabad, with an annual turnover of $250 million.
Auctions See Higher Prices
Week 33 saw a sharp rise in prices for all categories of tea in both North and South India. In north India, orthodox tea averaged Rs 316 per kilo, while CTC was at Rs 247 per kilo, higher than Sale 32. In the south, CTC dust averaged Rs 137 per kilo, higher than CTC leaf, while orthodox leaf averaged Rs 167 per kilo, also higher than the previous week. Sale percentages were also higher this week, with CTC Dust seeing a 97% sale in south India.
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