Mumbai, April 10 - Indian tea prices are likely to rise by 10-12 percent in 2008/09 due to rising domestic consumption and low carry forward stocks, a senior industry official said on Thursday. "We are anticipating this year the prices should be 10-12 percent higher than last year," Aditya Khaitan, managing director of Mcleod Russel India Ltd, one of the largest exporter, told Reuters in an interview.
India has a growing internal consumption and there is no more stocks from last year, therefore, Khaitan, also the chairman of Indian Tea Association, said the returns are expected to be very positive.