One's crisis another's boom! Sri Lankan crisis brings opportunity for Indian tea industry
The tea traders of North Bengal said that the present condition in Sri Lanka, which has been unable to export its tea, can create opportunities for the new market in India.
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New Delhi, May 19: Due to severe economic crisis, Sri Lanka that is a major player in global tea market, has not been able to export tea, creating an opportunity for the Indian tea industry to tap the market. The shift is expected to boost the orthodox tea market in India.
The tea traders of North Bengal said that the present condition in Sri Lanka, which has been unable to export its tea, can create opportunities for the new market in India. According to the tea traders from Siliguri, Sri Lankan buyers who have not been able to get tea due to the ongoing crisis, will definitely depend on India for the supply. Worsening of the Sri Lankan crisis will eventually boom India's tea trade.
According to the traders, India produces good quality tea. Therefore, countries looking for a shift in export, without compromising on the quality can be provided with good quality tea from India. If India gains advantage from the prevailing situation, and expands its tea business in the meanwhile then it will be a boon for the ailing industry.
Sri Lanka is a major producer of orthodox tea and produces around 3 million kg of orthodox tea. Maximum of its products are exported to European and American countries. Presently, Sri Lanka is struggling with acute food and energy shortage and an ongoing recession that roots back to foreign exchange shortages caused because of the lockdown.