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Indian tea prices jump to record as floods, COVID-19 slash output

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MUMBAI : Tea prices in the world's second-biggest producer India have jumped to a record after intense floods and coronavirus movement restrictions trimmed output in the main producing region.The price rise could support the beleaguered Indian tea industry which has struggled with rising production costs, but may limit New Delhi's exports and boost shipments from rivals such as Kenya and Sri Lanka, multiple trade sources said.Floods have damaged tea gardens in the northeastern state of Assam - which accounts for over half of India's production - where output had already been cut by labour movement restrictions to contain the coronavirus outbreak, Prabhat Bezboruah, chairman of India's Tea Board said.Floods in Assam have killed at least 84.

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