New Delhi: Country’s leading tea maker Tata Tea on Tuesday said it does not see prices of tea moving up any further in the near future as the next flushing season approaches.
Tea prices have been moving up in the past few months and have gone up by about 30%.
“I don’t see any upward movement in the commodity prices in the near future, as they have already peaked and the next flushing season is approaching,” said Tata Tea executive director marketing Sangeeta Talwar.
On the impact of deficient monsoon on tea, Talwar said tea production does not get affected as much by rain as by the extreme weather conditions.
Last year, there was a dip in tea production in India as well as in other major producing countries in Africa, which resulted in shooting up of prices.
Meanwhile, on the company’s plans to retain the leading position in domestic tea market, Talwar said the company is looking at entering in the vending machine segment in the next two years.
“We are looking at entering into the vending machine segment with our popular tea brand. No concrete decision has been taken in this regard yet,” Talwar said.
However, it is certain in the current financial year, the company will not enter this segment but in the next two years it will enter the segment, she added.