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Analysing impact of COVID, adversities of nature on tea production

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Tea, as a sector has lost 140 million kg in India in the previous year due to the COVID-19 lockdown. This year, the sector had high hopes but weather concerns in Assam and North Bengal and the restrictions from various states resulted in gloomy months of April and May for the tea market.

Tea, as a sector has lost 140 million kg in India in the previous year due to the COVID-19 lockdown. This year, the sector had high hopes but weather concerns in Assam and North Bengal and the restrictions from various states resulted in gloomy months of April and May for the tea market.
On tea production, Prabir Bhattacharjee, Secretary-General of the Tea Association of India said, “There have been problems for the tea industry for the last couple of years. This has heightened last year because of the COVID and this year seems to be affected by the adversities of nature.”
"The production is going to take a hit. 2020 had a subdued production because of the COVID. We are expecting a 20-25 percent drop in production as compared to 2019. These are estimates but I think we have made fair estimates.”
On prices, Bhattacharjee said, “Because of the subdued production because of COVID last year, the prices had surged, from the month of May, June onwards till September. But then September onwards till December, there was a massive slide. From Rs 284 it came down to Rs 184, a downslide of around Rs 100 or more. This year the prices are not going up in a manner that one would have expected because the production is less. The prices are hovering around Rs 160-165, so the surge in the price that should have come across has not happened till date.”
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Market Movers

CompanyPriceChange%Gain
Maruti Suzuki7,452.30 186.90 2.57
Hero Motocorp2,955.05 48.00 1.65
Bajaj Finserv12,311.60 179.95 1.48
Hindalco373.00 5.45 1.48
Titan Company1,774.20 17.20 0.98
CompanyPriceChange%Gain
Maruti Suzuki7,449.20 185.45 2.55
Bajaj Finserv12,310.00 176.95 1.46
Titan Company1,774.00 17.20 0.98
Bajaj Finance6,070.25 52.85 0.88
SBI422.15 3.40 0.81
CompanyPriceChange%Gain
Maruti Suzuki7,452.30 186.90
Hero Motocorp2,955.05 48.00
Bajaj Finserv12,311.60 179.95
Hindalco373.00 5.45
Titan Company1,774.20 17.20
CompanyPriceChange%Gain
Maruti Suzuki7,449.20 185.45
Bajaj Finserv12,310.00 176.95
Titan Company1,774.00 17.20
Bajaj Finance6,070.25 52.85
SBI422.15 3.40

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