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COVID-19 impact | Average cost of tea at auction centres registers 48% rise till November 2020

The increase of Rs 69.97 a kg on tea (Y-o-Y) at auction centres has been due to the belief of people who consider tea could boost immunity particularly in the backdrop of the Covid-19 pandemic.

December 30, 2020 / 05:46 PM IST
Representative image.

Representative image.

The average cost of tea at several tea auction centres in India rose to Rs 215.90 a kg till November 2020 from Rs 145.93 in January-November 2019, registering a 47.95 per cent hike compared to the same period of 2019, says Tea Board data.

Experts state that the increase of Rs 69.97 a kg on tea (Y-o-Y) at auction centres has been due to the belief of people who consider tea could boost immunity, particularly in the backdrop of Covid-19 pandemic.

Tea Board turns down proposal to allow imports at lower duty

Apart from this, lower availability due to a massive fall in production which rose from adverse weather, and COVID-19 lockdown resulted in the hike of prices at North Indian auctions.

The prices at auctions in the North rose by Rs 84.72 or 53.23 percent to Rs 243.87 a kg from Rs 159.15 in January-November 2019, Hindu BusinessLine reported. While demand by upcountry buyers for quality teas from the South led to the pushing up the prices in South Indian auctions.

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COVID-19 Vaccine

Frequently Asked Questions

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How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

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In South India auctions, the prices of tea rose by Rs 42.64 or 43.80 percent to Rs 140 a kg from Rs 97.36 in January-November 2019.

Meanwhile, the Indian Tea Board rejected a proposal to allow imports of tea at a lower customs duty after the production dropped amid the COVID-19 pandemic. Rejecting the proposal, the board said that it was a “one-off” year when the growers earned good prices for their produce.
Moneycontrol News
first published: Dec 30, 2020 05:46 pm

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