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.
DP Maheshwari, MD & CEO of Jayshree Tea and Industries said that prices are going up only for the quality tea production.
The current price is only for small quantities and the first harvest of the season, says DP Maheshwari, MD and CEO of Jayshree Tea. A chief worry for industry is the rising production costs of Darjeeling tea, says K Datta, CMD of Andrew Yule.
The blended realisation during the December quarter has improved by Rs 10 per kg and this will enable the company to post much better performance compared to last year, said DP Maheshwari, MD & CEO of Jayshree Tea.
As against the previous year, tea prices have risen by 7-8 percent, says DP Maheshwari, MD and CEO, Jayshree Tea.
DP Maheshwari, managing director of Jay Shree Tea feels that the change in the route to bring in FDI in the tea industry is a positive move. Investments will come in due to growing demand for tea and exports increasing, he told CNBC-TV18.
Let’s dig up the old debate... you like a hot cuppa or would you rather stick with the traditional tea? While coffee prices are seeing an uptick globally, tea prices too are seen rising on the back of strong demand.
With the rising tea prices that continue to increase for the third consecutive week, DP Maheshwari, managing director of Jayshree Tea says the bottom-line of the company is bound to ‘grow’ the company’s bottom-line.