New Enroll for RBI, SEBI & NABARD Intro Class! April 18 at 9:15 PM

    Question

    Which of the following factors significantly impacted

    India's tea exports in 2023?
    A Increase in global tea production Correct Answer Incorrect Answer
    B Loss of the Iran market due to US sanctions Correct Answer Incorrect Answer
    C Rise in domestic tea consumption Correct Answer Incorrect Answer
    D Improved quality of tea from competing countries Correct Answer Incorrect Answer
    E Increased tea consumption in Europe Correct Answer Incorrect Answer

    Solution

    India's tea exports in 2023 remained stagnant at 231.691 million kilograms, similar to 2022. A significant factor contributing to this stagnation was the loss of the Iran market due to US sanctions. This caused a sharp decline in Iran's imports of Indian tea from 54 million kilograms in 2019 to just 5.16 million kilograms in 2023. This loss severely impacted India's overall tea offtake, despite other factors such as exports to Russia being affected amid its conflict with Ukraine.

    Practice Next

    Relevant for Exams: