Ahmedabad, May 21 (PTI) Country's third-largest tea packager Wagh Bakri (WB) group today hiked tea prices by Rs 12 per kg in its various products categories with immediate effect. Wagh Bakri, has appealed the Centre to reduce duty on tea imports (presently in excess of 100 per cent) to help bridge the widening demand and supply gap in the country. As per industry estimates, India currently produces nearly 980 million Kgs of tea annually, of which around 180-190 million gets exported. "In an era of globalisation, imports cannot be restricted, especially in a scenario when tea production in the country is increasing at 3 per cent, while consumption is rising at 5 per cent, thereby widening the gap," Executive Director of Wagh Bakri, Parag Desai said. The group markets its various tea brands in states like Gujarat, Maharashtra, Madhya Pradesh, Rajasthan and Chhattisgarh. It sells around 28 million kgs of tea, having an annual turnover of around Rs 600 crore. "Since last three years, tea arrivals have been hit due to irregular rainfall and tea garden owners keep on increasing prices of tea. In the last three years, they have raised prices by Rs 30 to 40 per kg, every year," Desai said. If the import duty is not reduced and government does not act positively on our demands, prices of tea could touch Rs 500 per kg mark in the next few years, he said. The government should at least allow partial imports at reduced duty to match demand, he said. PTI VKB PD DKR
