"The second flush tea is premium tea which is mostly exported. There is no production of the tea since the shutdown shutdown started. The expected loss will be Rs 250 crore," Darjeeling Tea Association(DTA) chairman Binod Mohan told PTI.
Tamil Nadu produced 18.75 million kg tea in the month, up 96 percent from a year ago, it said. In the top tea producing north-eastern state of Assam, output rose 6.7 percent to 61.75 million kg.
Protests by Gorkhas, ethnic Nepalese living in West Bengal state, halted the plucking of Darjeeling's premium "second flush" tea crop, named for the harvest period that starts in mid-May and peaks in June.
"Darjeeling is currently witnessing a political unrest, which has led to suspension of operations at tea estates in the region, at a time for production of the second flush tea", ICRA said in its report.
In an interview to CNBC-TV18, Amritanshu Khaitan, MD of Eveready India spoke about the results and his outlook for the company. The company is in the process of implementing certain price hikes in AA and AAA categories to mitigate the cost pressure which has impacted margins in Q4, he said.
India's largest multinational flexible packaging materials and Solution Company Uflex Limited has reported a 22% rise in consolidated net profit for Q4 FY 2016-17 as compared to the same period in the previous fiscal.
Output in top tea shipper Kenya dropped by over a third from a year ago in the first quarter after drought ravaged parts of the country, while production was down over 16 percent during that period in India, the world's biggest black tea producer.
Modi, in his address, lauded the Ceylon Tea, saying it was world famous but what was lesser known was the sweat and labour behind it.
Tea companies are in focus as plantations in Assam are facing a production dip because of excessive rain in the area. This is expected to lead to shortage in stock and consequently an increase in prices.
If the deal looks favourable, Tata Coffee will be merged into Tata Global Beverages, sources told CNBC-TV18.
The company is likely to use the fresh fund for expanding its cafes in the country.
Reports of lower production in the global suppliers like India, Kenya and Sri Lanka has provided support to Tea prices. This year Production is expected to dec ...
In an interview to CNBC-TV18‘s Manisha Gupta, Kamal Baheti, CFO at McLeod Russel and DP Maheshwari, MD & CEO at Jayshree Tea & Industries spoke about the rise in tea prices and the demand supply mismatch.
Indian tea exporters are facing uncertainty from two of its major markets Iran and U.K. in terms of cheap tea and issues regarding the payment mechanism respec ...
Tea producer Jayshree Tea‘s net profit fell 98 percent on the back of lower tea prices. Speaking to CNBC-TV18, company‘s MD and CEO, DP Maheshwari, said prices of high quality tea have gone down by Rs 30-40.
Last year, Starbucks Chairman and CEO Howard Schultz described India as a "major business opportunity" during his visit here and announced the introduction of speciality teas in the country in 2017.
Tea prices are expected to be higher in the new season, said Kamal Baheti, CFO of Mcleod Russel. Increased prices will benefit the overseas operations most.
In the April-September period of last year, the total value of tea exports was Rs 2,124.97 crore, according to Tea Board's latest data.
India's tea production rose by three per cent to 901.67 million kg during January-September period of this calendar year, according to latest data.
Iron fillings enter tea due to wear and tear of the processing machinery. The continuous presence of iron filings in tea has raised safety concerns and there have been many demands to fix an upper limit.
The delegation for the October 29-November 3 visit is headed by Joydip Biswas, Deputy Director of the Tea Board of India, who is accompanied by Rishit Ravindra Patel, Ganesh Moorthy Lingan, Don Bosco Yasudass and Anil George Joseph.
The exports were at USD 71.88 billion in August 2015, according to the data of the commerce ministry.
Tea-to-batteries major Eveready Industries India today said the additional director general of Competition Commission has collected "certain business related information" but the company is unaware of the purpose.
Commerce and Industry Minister Nirmala Sitharaman said tea production during 2015-16 was 1233.14 million kgs and it registered a growth of 3 percent as compared to last year, which is the highest ever tea production in India.
"The overall situation in north Bengal is very bad due to incessant rains for the last several days with many bushes under the water," Joint Secretary of Indian Tea Association (ITA) Sujit Patra told PTI.