Exporters targeting Russia, the top importer of tea, could defer their purchases of tea from Coonoor, a key tea market in southern India, according to a Business Line report. “Their decision to reschedule purchases of tea will not have a ‘substantial’ impact on tea exports out of southern India. The quantity of tea exported to Russia, from southern India, in not high,” said the Coonoor, Tamil Nadu-based industry source, requesting anonymity.
"10 years ago, south India exported a lot of tea to Russia. Not anymore," the source said.
Tea exports out of India, the world’s second largest producer after China, fell 20 percent between April and September, 2012, when compared to the same period a year ago, the state-run Tea Board said in a statement Tuesday.
India exported 81.85 million kilograms of team during the April to September period. Higher per kg realization helped the country’s exporters and exports, in value term, dipped 3.3 percent during the period
India exports the premium orthodox tea variety to Russia, Iran and Iraq. The CTC (crush, tear, curl) tea variety is exported to the UK, Eqypt and Pakistan.
Heavy snowfall in Russia has left thousands of trucks and cars stranded on the M-10 highway that links capital Moscow with St. Petersburg, Russia’s second largest city, Reuters reported.
"The reach of the traffic jam at present is no longer than 55 km and is gradually falling," Interfax news agency quoted a police official as saying Sunday evening, the Reuters report said.