India tea exports recover as Kenya sets a minimum reserve price

India's tea exports, which suffered greatly due to the availability of Kenyan tea at cheaper rates in global markets, may rebound now as the Kenyan government has set a minimum reserve price for tea to safeguard the interests of the country's tea growers. The Kenya Tea Development Agency has established a minimum reserve price of $2.43 (about Rs.183) per kg for processed tea at the Mombasa auction. As a result, the price disparity between Indian and Kenyan teas has reduced, and Indian producers have begun getting black tea export inquiries from West Asia, Russia, Kazakhstan, and the United States. This year, Indian tea faces strong competition from Kenyan tea, whose prices ranged between Rs.250-300 per kg, while Kenyan tea was priced at less than Rs.150 per kg. Exporters want to surpass the 200 million kg export milestone in 2021, riding on renewed worldwide demand in the next three months before the winter season brings an end to tea production. "As exports to Iran have declined, ...