Tea exports dip nearly 5% in August

Country's tea exports dipped 4.87 percent in August to USD 68.38 million due to due to dip in the prices of the commodity.

The exports were at USD 71.88 billion in August 2015, according to the data of the commerce ministry.

"In volume terms, tea exports are high but in value terms it is low because the prices this time are lower than the previous year," Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai said.

He added that the overall prices of agriculture commodity is low in the international markets.

The main export destinations of Indian tea are Russia, the United Kingdom, the Netherlands, Germany, Poland, the UAE, Iran, Egypt, Iraq and Bangladesh.

India is the world's second-biggest tea producer and also one of its largest consumer.

The country exports CTC (crush-tear-curl) grade tea. Tea plucking in India mainly picks up between July and October.

In 2015-16, tea production was 1,233 million kg and exports crossed 230 million kg.

The main tea growing states in the country are Tamil Nadu, West Bengal and Assam.

The other agri commodities whose exports recorded negative growth in August include rice, other cereals, tobacco and cashew.