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India worried of sluggish domestic consumption
The Indian tea industry faced the double whammy of sluggish domestic consumption and low export demand in 2023, which dampened the overall price realization. And what’s more, subdued prices and increase in costs led to significant pressure on profit margins for tea manufacturers.
India’s tea production is likely to remain the same as that of last year with minor variations, according to industry experts. In 2022, the country’s total tea output stood at 1,366 million kgs.
The industry is, however, deeply concerned about poor domestic consumption growth. Although tea consumption has been growing with the population growth, the per capita consumption is still around 800 gm a year, remaining below 1 kg per person which is what the per capita consumption in most tea consuming countries.
Source: Hindu Business Online (Extracts), Courtesy: Tea Exporters’ Association Sri Lanka
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Forbes & Walker was set up in 1881 as a partnership between James Forbes and Chapmen Walker. Although there is no actual record of the date on which it was established the very first cash book, still in the possession of the Finance Director, indicates the brokerages were earned from 1st August 1881. In Sir Thomas Villiers' book “Mercantile Lore” the date of establishment of Forbes & Walker has been put down Read More...