Auction prices of tea rose by 16 per cent in the first seven months of 2008 because of a rise in exports, volume of tea available for auctioning witnessed a fall in northern India and increased in the south.

According to the Tea Board, prices of tea at auctions have increased to Rs 76.40 per kg till July, from Rs 65.80 per kg in the year-ago period.

Tea Board Chairman Basudev Banerjee had said India is expected to export around 20 million kg of tea to Iraq this year.

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Posted: 09|21|08 at 9:33 am. Filed under: Asia.