Tea Estates

New tea auction process to be introduced in March in north India

The Bharat Auction model for tea, which is already functional in south India, will be introduced in north India from end of March, an official in the industry said on Saturday. The pilot project will be conducted on March one so that all the features get tested by the stakeholders, following which the Bharat Auction model will be introduced in Kolkata, Guwahati and Siliguri from March 22, 2023. "The auction system will shift from the existing English system to the Bharat Auction model from March 22. The pilot auction will be done on March one so that all the features are tested by the stakeholders", secretary of Calcutta Tea Traders Association (CTTA) J KalyanaSundaram said. CTTA conducts the auctions in Kolkata, while Tea Auction Committee does both in Siliguri and Guwahati. He said the new auction has been already functioning in south India, adding that the volume of tea transacted there is much lower than in north India. "Out of odd 600 million kg sold in the country through the

Assam speciality tea auctioned for Rs 1.15 lakh per kg at private auction

A specialty tea from Assam's Dibrugarh district was sold for Rs 1.15 lakh per kg at a private auction on Friday, the proprietor of the tea estate said. 'Manohari Gold Tea' fetched the price at an auction on private portal Tea Inntech, Rajan Lohia of Manohari Tea Estate said. "Due to the cap of Rs 1 lakh per kg set by the Tea Board India at Guwahati Tea Auction Centre (GTAC), we had to sell this batch through private auction this year," Lohia said. This is the highest price fetched for tea at such auctions anywhere, he claimed. One kilogramme of the specialty tea was bought by RK Tea Sales, he said. Tea from the Manohari brand, especially its gold variety, had been fetching high prices at the GTAC over the years, setting new records in the process. Manohari Gold had sold for Rs 99,999 per kg through GTAC in December 2021, which was matched by 'Golden Pearl' of AFT Techno Trade that also went under the hammer at the same auction house in February this year. This high price was sur

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

M K Shah offers to buy McLeod Russel's tea estates without hostile bid

Offer for company under debt resolution doesn't seek to exclude its promoters, the Khaitan family: Source

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

Interim wage hike likely to hit margins of West Bengal tea estates: Icra

The impact would be lower for producers of quality tea, given the price premium they enjoy over the average market realisations, Icra said in a report.

Govt proposes Rs 1,000 cr for welfare of tea workers in Assam, West Bengal

The government on Monday proposed to provide Rs 1,000 crore for the welfare of tea workers in two poll-bound states - Assam and West Bengal. In the first paperless Union Budget, Finance Minister Nirmala Sitharaman said that a special scheme will be devised for the same. "I propose to provide Rs 1,000 crores for the welfare of tea workers especially women and their children in Assam and West Bengal," she said while presenting the Union Budget 2021-22. West Bengal and Assam are the two big tea producing states in the country.

Covid-19: Assam govt takes over health infra in tea estates, enforces SOP

State monitors health of 750,000-odd tea workers; each estate to be given Rs 5,000 to sensitise workers and officials about Covid-19

Financial crisis in tea sector deepens; companies put up estates for sale

The root of the problem, according to industry officials, is the sudden stoppage of lines of credit to tea plantation companies

Orthodox tea prices to firm up ahead of seasonal decline in Q4: ICRA

The drop happens because the quality of tea produced declines towards the end of the season subsequent to supply-demand situation

Getting the right brew: 4 tea start-ups explain biz models, profitability

The challenge with tea is putting a premium on what is a staple item in Indian homes

Soon, Chinese technology can drive India's tea estates

Industry officials opine that it is primarily on account of Indian plantations being labour-intensive while China has an advanced level of mechanisation

Stressed tea estates want to use a portion of land for other purposes

Options like growing other crops and developing real estate projects are being explored