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Tea Stocks Settled Mixed After Tea Prices Fall On Record Output


Tea stocks in trade on May 25, 2022 settled mixed after majority of the stocks settled lower. Some of the major tea counters such as Rossell India, B and A and Jayshree Tea traded with loss of up to more than 7%. Warren Tea also settled with a cut of over 5%.

Tea Stocks Settled Mixed After Tea Prices Fall On Record Output

Other from the pack, Longview Tea, Tata Consumer Products, CCL Products ended with loss of over 4%.
Meanwhile, tea stocks lost in trade today as prices inched lower on record output. In a month's time, there has been recorded 20% fall in tea prices. There has been witnessed an uptick in the price of Orthodox Tea-but the same constitute just 10% of the tea produced in the country.

Price of the Orthodox tea variety has seen a pick-up in the wake of slackening Sri Lankan shipments following economic turmoil in the country. But Orthodox tea constitutes only around 10% of the total tea produced in India.

The CTC tea has been on the rise owing to good rains. "The production of tea has increased from April from both corporates and bought leaf sector (BLS). The availability of cheap teas especially from the latter has suppressed demand for higher grades teas. However, the rise in the natural gas prices has raised the cost of production in the estates in Assam,'' said A Bhattacharya, deputy secretary of the Indian Tea Association, Assam.

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Story first published: Wednesday, May 25, 2022, 21:10 [IST]
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