Be prepared for an expensive sip of tea! TATA will increase the price, prices have increased so far this year – India TV Hindi

If you also drink Tata tea, then you should be prepared to have an expensive sip in the next few months. In fact, Tata Tea will be increasing prices across its brand portfolio in the next few months. A senior official gave this information on Wednesday. The official said the company intends to expand its profit margin, which has been hit due to the surge in input prices, the official said, according to Bhasha news.

Tata Consumer Products expects growth

According to the news, the company’s Chief Executive and Managing Director Sunil A D’Souza said that parent company Tata Consumer Products expects overall volume growth, which will be affected by factors such as floods in urban areas, slowdown in the rural economy and general slowdown in growth. Had happened. The company, which reported a 1 per cent growth in profit in the July-September quarter despite an 11 per cent rise in revenue, believes tea prices have increased by more than 25 per cent this year due to supply disruptions.

28% market share in tea retail market

Tata Tea holds about 28 per cent market share in the tea retail market in the country and competes with Hindustan Unilever in the category. Elaborating on the rise in tea prices, D’Souza said overall tea production has declined by 20 per cent, and besides, exports have increased. Additionally, the Tea Board has decided to stop plucking tea leaves in late November instead of the usual mid-December, which will have a greater impact on supply.

Tea export between January to July

The country’s tea exports increased by 23.79 percent year-on-year to 14.45 crore kilograms between January and July this year. According to the Tea Board, exports in the same period of calendar year 2023 were 11.67 crore kilograms. However, export realization declined to Rs 256.37 per kg from Rs 264.96 per kg on an annual basis in the first seven months of 2024.

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