International Tea Day auction sets price record

International Tea Day auction sets price record

Subject : Current Events

Context : The first International Tea Day special auction, held on a digital platform, in eastern Assam’s Jorhat, considered the tea capital of the region, fetched record prices.

Concept :

• The auction was conducted on June 21 — a month after the best leaves were plucked to mark International Tea Day on May 21 — by Mjunction Services Ltd., a B2B e-com firm.

About International Tea Day

• International Tea Day was observed on 21st May after it was designated by the United Nations General Assembly in December 2019.
• The UN General Assembly called on the Food and Agricultural Organisation (FAO is an agency of the United Nations) to lead the observance of the day.
• May 21 was chosen because the season of tea production begins in May in most of the tea producing countries.

Key Points

• Tea is a beverage made from the Camellia sinesis plant. It is the world’s most consumed drink, after water.
• It is believed that tea originated in northeast India, north Myanmar and southwest China, but the exact place where the plant first grew is not known. There is evidence that tea was consumed in China 5,000 years ago.

Economy:

• Tea production and processing constitutes a main source of livelihoods and subsistence for millions in developing and least developed countries.
• It is a labour-intensive sector, providing jobs, especially in remote and economically disadvantaged areas.
• Tea can play a significant role in rural development, poverty reduction and food security in developing countries, being one of the most important cash crops.

 Plantation condition:

• Tea is a tropical and sub-tropical plant and grows well in moderately hot and humid climates.
• The ideal temperature for its growth is 20°-30°C and temperatures above 35°C and below 10°C are harmful for the bush.
• It requires 150-300 cm annual rainfall which should be well distributed throughout the year.
• The most suitable soil for tea cultivation is slightly acidic soil (without calcium) with porous sub-soil which permits a free percolation of water.