Jayshree Tea sees exports touch 600 mln rupees
KOLKATA, June 27 (Reuters) - Jayshree Tea & Industries Ltd (JYST.BO: Quote, Profile, Research) expects to earn 600 million rupees in revenue from tea exports in FY09, from 486 million rupees a year ago, a top official said on Friday.
The company expects tea output to rise to 22 million kgs during the year, up from 18.4 million kgs in FY08, Chairman B K Birla told reporters after the annual shareholders meet.
The firm has increased marketing efforts in CIS countries and started exports to Egypt, he said.
Domestic price realisations have risen by 15-17 rupees for every kilogram of tea, he said.
"We expect better realisations on higher domestic demand and lesser carry forward from last year."
India, the world's second largest tea producer, exports the bulk of its produce to Russia, UK, United Arab Emirates, Iraq and Pakistan.
Indian consumption is seen rising over 800 million kg in 2008 from 780 million last year, according to the Tea Board.
Tea prices have also moved up to about 70 rupees per kg at the end of March, from about 65 rupees in 2007/08, data from Tea Board showed.
The company expects tea output to rise to 22 million kgs during the year, up from 18.4 million kgs in FY08, Chairman B K Birla told reporters after the annual shareholders meet.
The firm has increased marketing efforts in CIS countries and started exports to Egypt, he said.
Domestic price realisations have risen by 15-17 rupees for every kilogram of tea, he said.
"We expect better realisations on higher domestic demand and lesser carry forward from last year."
India, the world's second largest tea producer, exports the bulk of its produce to Russia, UK, United Arab Emirates, Iraq and Pakistan.
Indian consumption is seen rising over 800 million kg in 2008 from 780 million last year, according to the Tea Board.
Tea prices have also moved up to about 70 rupees per kg at the end of March, from about 65 rupees in 2007/08, data from Tea Board showed.
Currently area under tea plantation is estimated at about 521,500 hectares.
About 130,000 growers and 1.26 million workers are associated with the industry.
Shares in the firm ended 0.25 percent up at 120.75 rupees in the Mumbai market. (Reporting by Tamajit Pain; Editing by Harish Nambiar) Source: http://in.reuters.com
About 130,000 growers and 1.26 million workers are associated with the industry.
Shares in the firm ended 0.25 percent up at 120.75 rupees in the Mumbai market. (Reporting by Tamajit Pain; Editing by Harish Nambiar) Source: http://in.reuters.com
