Credit crunch impacts price of premium Darjeelings
India's famous Darjeeling region is feeling the pinch of the global credit crisis, according to the Darjeeling Tea Association. The premium first flush teas, which become available in March, have fetched 25% lesser price in the European markets this year. Nearly 85% of high quality first flush tea is exported to European nations, with Germany being one of the biggest buyers of the produce. Regional tea planters depend on the first flush and second flush teas for their profitability, as these varieties are major revenue earners for Darjeeling tea industry.