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GST shadow over tea industry realisations despite positive global cues

Small buyers account for 35 per cent of the total auction sales pegged at 450-465 million kg

Avishek Rakshit  |  Kolkata 

The tea industry witnessed sluggish prices in its auction centres despite global and domestic cues working in India’s favour. This was mainly due to the ambiguity resulting out of the roll-out of the goods and services tax (GST) last year.

In Assam and other north Indian tea producing centres, auction prices were flat at Rs 143. 98 in 2017. In south India, auction prices declined 6.7 per cent to Rs 96.51 a kg for 2017 from a year ago. Industry executives in Guwahati and Kolkata said the flat price was primarily on account of weak competition among buyers, who “did ...

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First Published: Thu, February 15 2018. 00:01 IST
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