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Abnormal surge in natural gas prices hurting tea sector, says association

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New Delhi, Could 16 (IANS) An irregular surge in costs of has turn into detrimental for the tea business and the business is hit arduous by the current sharp improve within the power worth, mentioned business physique North Japanese Tea Affiliation.

Notably, the Northeastern state of Assam alone produces over 50 per cent of the nation’s annual tea output.

From July, 2021 to April, 2022 the value of pure fuel has risen from Rs 5,085.00 to Rs 21,119.57 per 1000 scum, the affiliation mentioned in a observe.

The per scum worth of the pure fuel has gone up by 4 occasions over the last ten month interval.

“This exorbitant hike within the worth of pure fuel has resulted in a rise within the Value of Manufacturing (CoP) of Made Tea by not lower than Rs 6 to Rs 8 per kg,” it mentioned.

Pure fuel is used as gasoline within the withering and drying of tea leaves throughout processing.

The Indian tea business has been caught in an ideal storm for the previous a number of years on issues comparable to uncompetitive costs, lack of high quality crops, rising labour prices in addition to subdued export demand.

“With such improve in (fuel) prices, if the costs of tea on the farm gate degree doesn’t improve then survival might be at stake,” the affiliation mentioned.

It additional goes on to enchantment to the federal government to take a severe observe on the problem by taking quick steps to curb the value of pure fuel.

Additionally, the business affiliation appealed to the Union authorities that pure fuel shall be introduced below the ambit of GST with a purpose to usher in long run sustainability within the tea business.

–IANS

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