This is the highest rise in tea prices under the current WPI series. The domestic price rally in tea comes even as tea prices in the global markets are at a multi-year low. Data from International Monetary Fund (IMF) commodity portal shows that tea prices in the international markets are at a six-year low. If growing wholesale prices percolate into retail markets, they will add to the already worsening inflationary pressures in the economy. Viren Shah ,Chairman of Federation of All India Tea Traders Association (FAITTA), said that tea imports have increased in recent months mainly for re-exports.

Source: Hindustan Times September 21, 2020 06:32 UTC