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MUMBAI/KOLKATA Ethnic unrest in India's Darjeeling hills has wiped out the harvest of the world's most expensive tea, disrupting supplies to European buyers and potentially pushing prices higher.
MUMBAI/KOLKATA (Reuters) - Ethnic unrest in India's Darjeeling hills has wiped out the harvest of the world's most expensive tea, disrupting supplies to European buyers and potentially pushing prices higher.
The recent slump in the average price of orthodox teas at the Calcutta Auction Centre is being blamed on the upcoming GST regime.
West Bengal Chief Minister Mamata Banerjee’s decision to take the Gorkha Janmukti Morcha (GJM) head on, has cost Darjeeling tea industry dear.
A worker shows tea dust at a factory in Colombo June 17, 2013. — Reuters picMUMBAI, May 30 — The price of tea is likely to climb further this year after dry weather slashed production of the commodity in key suppliers India and Kenya, while recent deadly flooding could disrupt shipments from Sri Lanka, another key exporter.
"2016 saw improved performance from all three of our trading divisions reflecting the increased focus arising from the managerial changes announced last year. It also saw the decision to withdraw from our investment in Duncan Lawrie and the resultant disposals of the operating units of that business, the full financial impact of which will be recorded over two financial years, with the anticipated profit on the disposal of Duncan Lawrie Asset Management of £19.
Even as tea plantations in Assam face a production drop facing excessive rains, the situation may prove to be a boon for the tea industry, as it will help sell off 24 million kg (mkg) carryover stocks with stable prices. Had there not been any carryover stock, prices could have jumped.
BHOPAL: Goodricke Group, a brand synonymous with the finest teas that are heralded the world over, has come up with its second outlet in Bhopal’s own picturesque Boat Club Road.
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