Tea producers, exporters cheer as India exempted from Iran sanctions

Although orthodox tea production dipped by an estimated 10 per cent, prices didn't firm up

Tea producers and exporters, after a dip in tea prices of more than 7 per cent, anticipate a rebound in demand for the orthodox tea variant as well as price recovery for exports to Iran after the US decided to exempt India from trade sanctions on the West Asian country.

After the US announced in July its plans of putting an embargo on Iran, Indian tea firms and exporters, wary of the situation, had halted some of the shipments and some tea producers switched to CTC from orthodox tea.

Although orthodox tea production dipped by an estimated 10 per cent, prices didn’t