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.
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.
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.
Watch the interview of DP Maheshwari, MD & CEO of Jayshree Tea & Industries with Reema Tendulkar and Prashant Nair on CNBC-TV18, in which he spoke about the results and his outlook for the company.
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.
DP Maheshwari, MD & CEO of Jayshree Tea & Industries, talks about the company's third quarter performance and future outlook.
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.
DP Maheshwari, managing director of Jayshree Tea says that the tea segment has done better than the sugar and chemical counterparts. Confusion over subsidy and pricing of products on the chemical sector has affected sales, he told CNBC-TV18 in an interview.
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.
DP Maheshwari, managing director, Jayshree Tea in an interview to CNBC-TV18 said that recent tea price movement has been positive for quality tea. "The positive price impact is now on all categories of teas," he said.
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.
Jay Shree Tea is merging its sugar manufacturing subsidiary, M P Chini Industries, with itself. DP Maheshwari, managing director of Jayshree Tea said that once the amalgamation of the tax plays out, a turnover of Rs 100 crore is not ruled out.