The pandemic outbreak has lead to changes in consumers’ behavior, and this is no exception for tea consumption. Declines in food services have caused an increase in global tea consumption by 1.5%, according to EIU.
In Britain, for example, cafes and tea shops experienced a 37.7% drop in their sales while the retail sales for the hot beverage category including tea and hot chocolate experienced a 7.1% increase in 2020.
Consumers were mostly looking for traditional blends with Yorkshire reigning in the top seller position with 14.5% sales growth. This was followed by Twinings and Tetley with 3.4% and 2.2% sales growth.
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FAITTA, India’s professional tea traders association, asked the nation’s tea board in January 2021 to evaluate the digital auction process thoroughly. FAITTA members believe that even after five years of running, the system is still failing to create a fair bidding experience for the traders.
Viren Shah, a member of FAITTA, claimed that the bidding process can lead to an unnecessary hike in tea prices that can cause a skew in price norms. Shal also said that the knockdown mechanism in the bidding process can also affect traders’ participation in the long run. Consequently, this will be counterproductive to the Tea Board’s …