Financial Daily from THE HINDU group of publications
Monday, Apr 10, 2006
Financial Daily from THE HINDU group of publications Monday, Apr 10, 2006 |
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Industry & Economy
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Climate & Weather Corporate - Performance Agri-Biz & Commodities - Tea UK co tea output hit by Kenya drought Our Bureau
Kolkata , April 9 The British tea conglomerate Camellia Plc has been affected by the recent drought in Kenya with its production falling by around 20 per cent. This was stated by Mr M.C. Perkins, Chairman of Camellia Plc. He was in the city to attend the 30th annual general meeting of Goodricke Group Ltd. Camellia holds 74 per cent in Goodricke. According to Mr Perkins, Camellia's annual average tea production in Kenya is 15 million kg. Due to the drought the company has lost 2-3 million kg. It is the biggest tea producer of Kenya and also Bangladesh. "Rains have started in Kenya but we do not know how long it would continue. However, we feel that the tea availability in the month of May would be more or less similar to the last year," Mr Perkins told reporters. He, however, added that there would certainly be a shortage of the total annual tea production. At the moment, he said, there is a short supply of tea in the spot market and prices have jumped too. Tea contributes around 40 per cent of the company's product basket which ranges from citrus fruits, table grapes to coffee and rubber in the plantation sector.
More Stories on : Climate & Weather | Performance | Tea
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