Assam Tea Traders Current Affairs - 2020

GoI to increase reach of banking in the North-East Tea Garden areas

On February 27, 2020, the Finance Minister Nirmala Sitaraman announced that the banking in the North East Region is to be increased.

Highlights

The minister in a meeting with economists, trade and industry representatives and policy experts announced that the banking in the tea garden regions of the north east is to be increased. This is being done to cover greater population of the North East under Financial Inclusion.

Background

The main challenge in implementing Financial Inclusive schemes in the tea gardens of Assam or any other tea-based region is daily wages. The tea garden workers prefer cash in hand. This is mainly because most of the workers here are women and are illiterate.

In 2016, when digital India was being implemented widely all over India, discussions were held to direct Assam Gramin Vikas Bank and State Bank of india to overcome the problem of daily wagers and their demand for cash in hand. However, the results were not as expected. Therefore, the GoI has now decided to increase the banking services and infrastructure to increase banking in the region.

Assam’s Dikom Tea Estate brand fetches ‘record’ Rs.75,000/kg

A rare variety of tea named ‘Golden Butterfly’ from Upper Assam’s Dikom Tea Estate set a new record on as it was auctioned for Rs.75,000 per kg at Guwahati Tea Auction Centre (GTAC). It broke the record for highest price fetched by a tea at a public auction for 3rd time in a fortnight.

Key Highlights

The exceptionally rare and special tea was sold through J Thomas and Company and was purchased by city- based Assam Tea Traders, one of the oldest tea shops.

Judging Criteria: An exotic tea is judged by its taste, aroma and colour. This ‘Golden Butterfly’ tea is characterised by extremely mellow and sweet caramel flavour.

Guwahati Tea Auction Centre: It is emerging as a centre for showcasing high-priced Assam speciality tea. In the tea sector GTAC has created an image of a place where records are meant to be broken.

In July 2019, GTAC witnessed two big records, when orthodox variety ‘Maijan Golden Tips‘, a hand-rolled and sun dried speciality tea fetched a price of Rs.70,501/kg and another specialty orthodox tea variety, named ‘Manohari Gold’ (from Manohari Gold Estate in Dibrugarh), was sold at Rs.50,000/Kg. GTAC is providing an opportunity to sellers who want to sell their tea at remunerative prices.

About ‘Golden Butterfly’ Tea

Unique: Golden Butterfly is made of tea buds and not tea leaves. It is the bud which lends tea liquor a full-bodies, bright-yellowish colour, unlike usual leaf-based tea from Assam which gives brew a black colour.

Naming: Buds are plucked from bushes in evening, when swarms of butterflies descend on them to rest. Hence, the name Butterfly.

It reflects the meticulous care and attention to crop husbandry in Dikom’s tea plantations. This surreal experience, of walking along rows of tea bushes teeming with butterflies, is out of the world,

Unlike Golden Butterfly, ‘Maijan Golden Tips’ and ‘Manohari Gold’ are made from buds plucked early in morning before sun alters aroma and flavour.