Shipments from South India during the first 11 months of 2023 increased to 81.87 mkgs from 77.39 mkgs in the previous similar period, according to the data.
The Indian tea industry is expected to report an 8% decline in revenue this fiscal year due to a decrease in export volume, according to CRISIL Ratings. Operating profitability is also expected to fall for the second year in a row. However, low leverage and minimal capital expenditure are expected to keep credit profiles stable.