Tea prices soar in the backdrop of declining volumes

National tea sales average for the month of July 2022 recorded Rs. 1,448.13 (USD 4.05), thus establishing the highest ever recorded average for a calendar month surpassing the previous best of Rs. 1,333.61 (USD 4.14) recorded in the month of April 2022. In comparison to the July 2021 average of Rs. 591.35 (USD 2.99), the total average shows a significant increase of Rs. 856.78 YOY, whilst gaining 1.06 in USD terms as well.It would be noteworthy that in USD terms, July 2022 average of USD 4.05 records an increase of USD 0.56 when compared to June 2022 average of USD 3.49.

When analysing the respective elevational averages for the month of July 2022 – Highest ever High Grown average for the month of Rs. 1,204.57 (USD 3.37) recorded an increase of Rs. 192.50 month on month vis-à-vis Rs. 1,012.07 (USD 2.83) of June 2022. When compared to July 2021 average of Rs. 555.26 (USD 2.81), a significant increase of Rs. 649.31 is recorded YOY, whilst in USD terms records an increase of USD 0.56.

Highest ever Medium Grown average for a calendar month totalling Rs. 1,152.29 (USD 3.23) for July 2022 recorded an increase of Rs. 159.90 month on month vis-à-vis Rs. 992.39 (USD 2.78) of June 2022. When compared to the July 2021 average of Rs. 521.70 (USD 2.64), shows a significant increase of Rs. 630.59 YOY, whilst in USD terms records an increase of USD 0.59.

Low Growns too recorded the Highest ever average of Rs. 1,608.57 (USD 4.50) in July 2022 surpassing the previous best of Rs. 1,506.71 (USD 4.22) recorded in May 2022. It records an increase of Rs. 178.09 month on month and a significant Rs. 982.35 YOY respectively with a gain of 1.33 in USD terms.

– Forbes & Walker Research