Kolkata, Aug 2 (IANS) The world’s largest tea producer McLeod Russel India sees average price realisation of tea in the current fiscal (2010-11) to be at Rs.150 per kg, up from Rs.137 a year ago, a top official said here Monday.
Managing Director Aditya Khaitan expects this price realisation is due to crop loss because of heavy rainfall in north India. The company has majority gardens in north India and Assam which contribute around 70 million kgs to its total production.
‘We had earlier planned to take our production within the country from last year’s level of 77 million kgs to 80 mn kgs this year but now we see a shortage of 3 million kgs this year which will keep us to last year’s level,’ Khaitan told reporters on the sidelines of the annual general meeting of the company.
He, however, expects to maintain domestic production in 2010-11 by buying more leaves from outside and converting those into manufactured teas in its own factories.