Between July and November in the fiscal year 2023-24, Pakistan observed a significant surge of 44.6 percent in tea imports, amounting to Rs. 79.81 billion compared to Rs. 55.2 billion during the same period the previous year.

This uptick translated to the importation of 116,407 tons of tea, signifying a 15.6 percent increase from the 100,680 tons brought in during the corresponding period last year.

November specifically showcased a remarkable 23.9 percent year-on-year growth in tea imports. However, this represented a 6.7 percent decrease from October 2023, summing up to Rs. 16.4 billion.

Read more:Pakistan’s Mobile Imports Surged by 108% to $468 Million from July to October 2023

Despite a decrease in international tea prices over the five-month period compared to the previous year, the 44 percent surge in the rupee value is attributed to significant currency devaluation throughout the year. In dollar terms, the increase in tea imports was a more modest 11 percent.

It’s noteworthy that Pakistan retains its position as the world’s largest tea importer, having brought 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 governmental endeavors to locally cultivate tea in the Mansehra region of Khyber Pakhtunkhwa, substantial outcomes from these initiatives are yet to materialize.