Shortage of Darjeeling tea affects tea stocks
DSIJ Intelligence / 02 Aug 2017
Tea prices have been pushed higher by over 50% during this month.
Tea prices have been pushed higher by over 50% during this month. The reason is the ongoing unrest in the Darjeeling hills where general strikes in support of the demand for a separate state are still going on.
A 45-day long agitation by the dominant party Gorkha Janshakti Morcha led to a halt in the production of tea in the region. There is a heavy shortage of tea in the market with customers ready to pay more for their favourite Darjeeling tea. The production of tea in Darjeeling dipped by 90% in the month of June 2017.
Tea stocks have been giving mixed performance with heavy trading volumes on the Indian bourses. Lykis was top gainer in the sector, trading at Rs 54.95 per share, up by 2.04%. CCL Products and Jay Shree Tea & Industries were also trading in the green zone, higher by over 1%. On the other hand, B&A and Assam Company were top losers, trading lower by up to 2.3% on Wednesday.
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