Article from Financial Express
http://www.financialexpress.com/news/tea-prices-to-go-up-says-mcleod-russel/627588/2
World's largest tea producer McLeod Russel India Ltd sees average price realisation per kg to rise at least by Rs 12-15 in 2010-11. The average tea price was around Rs 137 per kg in 2009-10.
Mcleod Russel managing director Aditya Khaitan said contrary to expectations that average tea prices would drop during the year, prices are actually expected to go upwards. ''There are apprehensions in some quarters that average tea prices would drop in 2010-11 from last year's level but my reading is that we would see a higher price as crop shortage is only going to go up," he said.
According to him, industry is likely to face a shortage of 80 million kg during the year. Last year the shortage was around 60 mkgs. The company has suffered a net loss of Rs 120 crore during the quarter to March 31, 2010, against a loss of Rs 88.61...World's largest tea producer McLeod Russel India Ltd sees average price realisation per kg to rise at least by Rs 12-15 in 2010-11. The average tea price was around Rs 137 per kg in 2009-10.
Article continued....http://www.financialexpress.com/news/tea-prices-to-go-up-says-mcleod-russel/627588/2
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