Shares of Tea companies saw strong buying interest in a down market Monday. Most tea stocks traded 1-4% higher.
According to the Indian Tea Association, tea auctions have witnessed strong opening prices this year. Auction prices are up 46-55% this year. High quality tea prices quoted at a premium of Rs 60-80 per kg this year against last year's prices of Rs 150-180 per kg.
Jayshree Tea traded 3.8% higher at Rs 90.95 on the BSE at 1010 hours. Williamson Magor and Co was up 3.4% at Rs 44. McLeod Russel shares traded 2.6% higher at Rs 274.40. Shares of Harrisons Malayalam, Assam Co and Goodricke Group also saw strong buying interest.
Industry experts believe prices could rally to Rs 300 per kg this year.
A fall in output will also drive prices northward. January output was lower by 30%. The cumulative deficit for the year 2011 was 50 million kg. Global tea production till December was lower than the previous year.
Shares of Tea companies saw strong buying interest in a down market Monday. Most tea stocks traded 1-4% higher.
According to the Indian Tea Association, tea auctions have witnessed strong opening prices this year. Auction prices are up 46-55% this year. High quality tea prices quoted at a premium of Rs 60-80 per kg this year against last year's prices of Rs 150-180 per kg.
Jayshree Tea traded 3.8% higher at Rs 90.95 on the BSE at 1010 hours. Williamson Magor and Co was up 3.4% at Rs 44. McLeod Russel shares traded 2.6% higher at Rs 274.40. Shares of Harrisons Malayalam, Assam Co and Goodricke Group also saw strong buying interest.
Industry experts believe prices could rally to Rs 300 per kg this year.
A fall in output will also drive prices northward. January output was lower by 30%. The cumulative deficit for the year 2011 was 50 million kg. Global tea production till December was lower than the previous year.
Shares of Tea companies saw strong buying interest in a down market Monday. Most tea stocks traded 1-4% higher.
According to the Indian Tea Association, tea auctions have witnessed strong opening prices this year. Auction prices are up 46-55% this year. High quality tea prices quoted at a premium of Rs 60-80 per kg this year against last year's prices of Rs 150-180 per kg.
Jayshree Tea traded 3.8% higher at Rs 90.95 on the BSE at 1010 hours. Williamson Magor and Co was up 3.4% at Rs 44. McLeod Russel shares traded 2.6% higher at Rs 274.40. Shares of Harrisons Malayalam, Assam Co and Goodricke Group also saw strong buying interest.
Industry experts believe prices could rally to Rs 300 per kg this year.
A fall in output will also drive prices northward. January output was lower by 30%. The cumulative deficit for the year 2011 was 50 million kg. Global tea production till December was lower than the previous year.
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