Pakistan Sips to Record Tea Imports: Rs. 80 Billion in Half a Year

In a remarkable development, Pakistan has witnessed an impressive 44.6% year-on-year surge in tea imports, reaching a staggering Rs. 79.81 billion from July to November in FY2023-24. This substantial increase, compared to Rs. 55.2 billion in the corresponding period last year, has positioned Pakistan as a key player in the global tea trade.

The total volume of tea imports during this period amounted to 116,407 tons, reflecting a substantial 15.6% increase from the previous year's 100,680 tons.

While the month of November alone saw a noteworthy 23.9% YoY growth in tea imports, there was a slight month-on-month decline of 6.7%, with the value totaling Rs. 16.4 billion compared to October 2023.

Despite a global dip in average tea prices over the past five months, Pakistan's tea imports in dollar value recorded a moderate 11% increase. The remarkable 44% surge in rupee value can be primarily attributed to significant currency devaluation over the course of the year.

This surge solidifies Pakistan's standing as the world's largest tea importer, having brought in an impressive 231,449 tons of tea valued at Rs. 139 billion, approximately $500 million during FY23.

In efforts to promote domestic tea cultivation, the government has actively pursued initiatives, particularly in the Mansehra region of Khyber Pakhtunkhwa. However, tangible results from these endeavors are still awaited.