MUMBAI (Commodity Online): Despite high tea production, India is expected to witness a cumulative deficit of 45-50 million kg during 2012, according to Indian Tea Association (ITA).
According to the data released by the ITA, India's tea production is up 21.92 million kg to 988 million kg till December 2011, while consumption increasing by 30 million kg every year.
Latest production figures fell short of the tea producers expectation of achieving production of one billion kg due to bad weather in the major growing regions in the country.
Meanwhile, according to The Associated Chamber of Commerce and Industry of India (ASSOCHAM), the total turnover of the tea industry in India is likely to reach Rs 33,000 crore by 2015 from the current level of about Rs 19,500 cr.
Nearly 6 lakh hectares in India is under tea cultivation.
India is world's largest consumer, second largest producer and fourth largest exporter of tea after China and accountworldwide is consumed in India.
The Indian tea industry is also facing tough competition from China, Sri Lanka, United Kingdom, Kenya and Japan.
