While major tea producing countries have seen an increase in prices, those in India have fallen by around 3.5 per cent during the first seven months of the current year. Sri Lankan prices were an average of $4.03/kg, against $2.95 a kg in the same months of 2016. Kenya’s have been $3 a kg, vis-vis $2.3/kg a year before.

Average Indian auction prices have seen a year-on-year fall of three per cent, varying considerably across quality grades. The average price is around Rs 128 a kg, from Rs 131.5 a kg last year and Rs 115 a kg in 2015. Kaushik Das, vice-president at ratings ...