India's tea prices surge due to reduced output from heatwaves, floods, and pesticide ban.
India's tea prices surge due to reduced output from heatwaves, floods, and gov't pesticide ban during peak harvesting season. The struggling industry, with rising costs and stagnant prices, may benefit. Production in May dropped 30% from last year, and 2024 prices could rise 16-20%. Despite higher prices, tea exports are expected to increase due to pesticide ban-related buyer purchases.
July 08, 2024
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