India

McLeod Russel, the largest tea producer in the world, has said that it anticipates the price of tea to increase to an average of Rs135/kg (US$2.96/kg) during this fiscal year, a Rs25 increase over last year’s Rs110/kg.

The company believes that an estimated global shortfall of around 60 million kg in March 2010 will help to push prices up in 2010-2011.

"Global tea prices are trading at US$3.25 or Rs.160/kg so we see more upside in prices," according to Aditya Khaitan, the company’s managing director, quoted in the Indian press.