Tea News and Biz Insights - January 21, 2022

HEAR THE HEADLINES – Kenya’s Price Floor is Sagging | Finlays’ Cites Tea in its Top Beverage Trends | The Pandemic Shuffles Tea Export Ranks, a TEAIN22 forecast.| GUEST – Aravinda Anantharaman, Tea Biz India Chief Correspondent India| FEATURES – This week Tea Biz travels to Bengaluru where India Chief Correspondent Aravinda Anantharaman reviews a momentous year for the tea industry in a country that produces 20% of the world’s tea. Her report is the sixth in the series of TEAIN22 year-end reviews and forecasts. | Reorganizing and Reinvigorating India’s Tea Sector –India’s tea industry in 2021 recovered from severe setbacks due to the pandemic. Production totals rebounded in 2021 but exports lagged as global prices fell and logistics costs soared. A shortage of containers led to high freight costs. Export volume declined to a five-year low of fewer than 200 million kilos. Kenya undercut prices at auction for commodity black teas. Fortunately, India’s domestic demand remains firm, consuming 75% of locally grown tea. The year saw the pilot of the Japanese auction model, now named the Bharat auction, that launched in South India in January. Tea Board of India Chairman PK Bezboruah reports that high-quality teas are sold at a 150% premium over medium-quality teas. “The path forward for the organized sector is to focus on quality. Therein shines the silver lining,” he told the Times of India. Tea Biz asked tea industry stakeholders Anshuman Kanoria, Chairman, Balaji Agro International, Head of India Tea Exporters Association and owner of Tindharia, Goomtee and Jungpana gardens in Darjeeling; and Pranav Bhansali, managing partner, Bhansali & Co., what to expect in 2022.

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