Pakistan experienced a substantial 44.6 percent year-on-year surge in tea imports, reaching Rs. 79.81 billion from July to November in the fiscal year 2023-24, in contrast to Rs. 55.2 billion during the same period in the previous year.
This influx amounted to 116,407 tons of tea, showcasing a 15.6 percent increase compared to the 100,680 tons imported during the same period last year. While November witnessed a noteworthy 23.9 percent YoY growth in tea imports, there was a 6.7 percent month-on-month decline from October 2023, which accounted for Rs. 16.4 billion.
Interestingly, despite a decline in international tea prices on average over the five months compared to the corresponding period last year, the increase in the rupee value by 44 percent is attributed to significant currency devaluation throughout the year. In dollar terms, the rise in tea imports was a more modest 11 percent.
It’s worth noting that Pakistan continues to hold the position of the world’s largest tea importer, bringing in a total of 231,449 tons of tea valued at Rs. 139 billion or approximately $500 million during the fiscal year 2022-23.
Despite ongoing governmental initiatives to cultivate tea locally in the Mansehra region of Khyber Pakhtunkhwa, substantial results from these efforts are yet to be realized.
