According to a latest notification from Tea Board of India, the various Associations will conduct intensive outreach activities with the growers with immediate effect to handhold them for the requirements, and transition, for bringing 100% Dust Tea to Auctions. It noted that 100% Dust Tea through auction will be ensured for all teas having Factory Gate pass date from 1st May 2024 until 30th June 2024. Two times out lots may be withdrawn and sold in private channel if the sellers wish to.

Once within the 3 months period the samples will be tested through a Panel of Independent NABL accredited Laboratory who will also draw the samples from the auction warehouses. The cost for the testing will be borne by the sellers. FSSAI mandates the seller to test their product twice a year and record the result, and the first test will be in this account. The tests would be conducted for 59 chemicals as per the latest FSSAI Notifications.

According to the Tea Board, the directive is to all registered buyers, packers and exporters to buy this category only from the auctions. Any violation both by sellers & buyers will entail penal action, including cancellation of license under the Tea (Marketing) Control Order, 2003 (TMCO, 2003).

Global Tea Market To Grow From USD 49.53 Billion in 2023 to USD 98.29 Billion by 2033

According to a latest update from www.sphericalinsights.com, the Global Tea Market Size is to grow from USD 49.53 Billion in 2023 to USD 98.29 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 7.09% during the projected period. The drink known as tea is prepared by soaking dried Camellia sinensis leaves in hot water. It is among the most widely drank drinks worldwide, and its caffeine content is responsible for its energizing properties. It is among the most widely consumed drinks globally. The beverage is considered healthful since it contains minerals including potassium, calcium, magnesium, and manganese as well as antioxidants. Because tea reduces the body's concentration of free radicals, it has been shown to limit cell damage. The polyphenolic ingredients in black and green tea help to avoid heart problems. The market is expected to further expand due to growth in the cosmetics and beauty sector.

Changes in customers' lives and the degree to which they demand accessibility are having a major impact on the global tea industry. As a result, ready-to-drink (RTD) tea beverages are becoming increasingly popular as customers seek quick and easy beverages to fit into their busy schedules. Being able to purchase packaged or bottled tea while traveling at an affordable price is a perfect feature of modern life. Tea companies are also expanding their ready-to-drink tea offerings to meet consumer demand for affordable, convenient, and high-quality tea. The black tea segment is expected to grow at the fastest pace in the global tea market during the anticipation timeframe.

Outlook:

India’s Tea production stood at 33.58 Million Kgs or mkg in January-February 2024, recording a sharp spurt of 11% compared to first two months of 2023. The export trend was buyoant. The domestic Tea exports stood at 20.10 mkg in January 2024, up 19% compared to January 2023. The total export earnings also rose 3.27% on year. India’s Tea exports stood at 227.91 million kgs or mkg in the calendar year 2023, recording a drop of around 1.37% in annual terms. Export earnings also fell around 4.8%. The local prices are already up impressively in recent weeks and a lot will depend on the momentum in exports in coming months.