Darjeeling prices plummet on low demand at home and abroad
Growers of famous Darjeeling tea, dubbed the Champagne of teas, are facing unsold stock and falling prices due to subdued demand from local and international buyers. Despite significantly lower output, prices at auctions are around 20% lower than last year as summer harvest second flush teas become available. Experts attribute this to lower demand from large domestic buyers like Tata Global Beverage and HUL, who may be buying directly from growers, thereby bypassing auctions. Interest from the European Union, historically the largest buyer, has also been dwindling, especially for conventional second flush teas, whereas first flush and organic teas remain popular. In the last auction to date, 178,213 kilograms of Darjeeling tea came under the hammer, but only 73,846 were sold.