Page 4 - Tea Industry

Warren Tea to exit plantations, plans expansion of IT and hotel businesses

Signs deal with Dhunseri group for the last four estates it currently owns

Tea exports rise 14.8% to 140.28 mn kgs in Jan-Aug period this year: Data

Exports of tea from India increased by 14.8 per cent to 140.28 million kilograms in the first eight months of the 2022 calendar year, according to Tea Board data. Tea shipments during the January-August period in 2021 stood at 122.18 million kilograms (mkgs). The CIS countries, including Russia, Ukraine and Kazakhstan, remained the largest importer of Indian tea with 30.56 mkgs in the first eight months of 2022, marginally higher than 29.13 mkgs shipped out to these nations in the year-ago period, the data said. Sources in the industry said that tea exports did not pick up substantially due to shipping and container costs which skyrocketed due to the war between Russia and Ukraine. After the CIS countries, UAE was the second largest importer at 23.84 mkgs, a rise of 157 per cent from 9.27 mkgs in the similar period in 2021. Owing to economic sanctions imposed by the US on Iran, tea shipments to the west Asian country also failed to increase in the first eight months of 2022. Expo

McLeod Russel Sept qtr net up 6% to Rs 131 cr despite dip in revenues

Revenues from operations at Rs 425.06 crore were lower by 13.93% from the same period last year

Tea Board seeks Rs 1,000 crore support for industry for five years

'Tea price trajectory of the last decade reflects a prolonged phase of stagnation in price growth which consequently pushed a large segment of the industry into crisis'

Amid takeover offer, McLeod Russel pins hopes on debt recast plan

CMD Khaitan says banks have been very supportive and have come to a conclusion on what debt restructuring resolution should be

M K Shah Exports approaches McLeod Russel India lenders with counter offer

Carbon Resources has offered an upfront payment of Rs 1,245 crore of an estimated outstanding bank debt of Rs 1,650 crore

Why a non-tea player like Carbon Resources is eyeing McLeod Russel

With a crop of 44 mkg across 31 estates in Assam and two in Dooars, McLeod is a Goliath in the world of tea. It has estates in Africa and Vietnam and its total output worldwide is 73 mkg

Takeover scare for McLeod Russel as Carbon Resources picks up over 5% stake

The would-be acquirer makes non-binding offer to banks to settle the bulk tea producer's dues

Why are nearly half of Darjeeling's tea estates looking out for buyers?

Liquidity challenges amid high wages, falling demand and prices are brewing trouble for the "champagne of the teas"

Tea producers reinvent business, adapt online blend for consumer connect

Data available on the Tea Board website showed that India's production in 2020-2021 had stood at 1,283.03 million kg and volumes at the auctions were around 547 mkg

Major tea firms stare at crop loss due to Assam floods, pest attack

"Our quick estimate indicates that the crop in June 2022 is lower by at least 20-25 per cent over June last year," said Sujit Patra, secretary, exports & market promotion, ITA.

Indian orthodox tea gets a boost as crisis impacts Sri Lankan trade

India - which has just stepped into the quality period for orthodox - is reaping the benefits of the anticipated shortfall

Sri Lankan economic crisis brings opportunity for Indian tea industry

The tea traders of North Bengal said that the present condition in Sri Lanka, which has been unable to export its tea, can create opportunities for the new market in India

India's tea industry is on tenterhooks as Russia wages war on Ukraine

Russia accounts for 18 per cent of the industry's exports and the consequences of the conflict are making themselves felt already

McLeod Russel reports Rs 44 crore consolidated net loss in Dec quarter

It had reported a net profit of Rs 1.04 crore in the year-ago period

D2C tea brand Esah Tea raises Rs 3cr in pre-series A round from NEDFI

Esah is the first tea start-up from Assam to raise VC funding. The brand has earlier raised angel investment from SRD Group and Grant From Assam Startup & NEAT-E-Hub.

Tea body urges for measures for equilibrium in demand and supply

The Tea Association of India (TAI) on Sunday said supply outstripping demand is a major cause for the problems facing the tea industry in the country. It also spelt out various measures to correct the situation, including the need to increase domestic consumption of the beverage. In a submission before Union Industry and Commerce Minister Piyush Goyal here, TAI president Ajay Jalan said supply outstrips the demand and it is one of the root cause of the problem. "We have to regulate supply and create demand for tea," he added. Advocating for promotion of tea consumption, he pointed that per capita consumption of tea in India is as low as 830 grams per head/year as compared to 1.61 kg per head in the UK or 1.01 kg per head per year in Pakistan. "An increase of even by 100 gram per capita consumption would lead to consumption of another 131 million kg annually," Jalan added. He said there is a need to promote tea as a super food/beverage highlighting the immense health benefits of .

Top headlines: SBI likes Tata Air India bid; markets sweat over Evergrande

McLeod Russel India, the country's largest tea producer, bubbles out of insolvency. Metal stocks crash over fears about China's Evergrande. More in top headlines of the day

McLeod's return from brink of IBC signals a brief respite for tea industry

In an industry in which more than half the production is accounted for by the small growers, analysts believe that big players may help bring production and pricing discipline

Sri Lanka's storm in a teacup may compel India to bring out its checkbook

Having just seen its $3 billion investment in Afghanistan go up in smoke, India's appetite for economic diplomacy may even be lower than usual.