The Hindu Business Line : Chai bazaar to counter rising tea prices

The Western India Tea Dealers Association (WITDA) will organise a six-week chai bazaar from May 18 to counter the rising procurement prices of tea from West Bengal, Guwahati and Kolkata, said Mr Piyush Desai, President of WITDA and Chief Executive Officer and Managing Director of the Wagh Bakri Tea Group.

A committee comprising seven regional tea brands of Gujarat will monitor the project with a request to tea traders in Gujarat to contribute their buffer stock to the association. This would give the traders the right to repossess 50 per cent of their contribution.

Delayed rains

Wagh Bakri has contributed 25,000 kg of Broken grade and 15,000 kg each of Pekoe dust and dust. The reason for increasing prices at the public tea auction centres is attributed to delayed rains in tea producing regions of West Bengal, but due to substantial rainfall, the produce is expected to be good, said Mr Desai.

“The procurement prices of tea have gone up by Rs 40-50 a kg in the past four weeks. However, with arrival of tea from Kolkata and Guwahati auction centres the tea producers would be compelled to loosen their grip on the stock,” he said.

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