tea time

Tea shortage to endure?

India

According to Aditya Khaitan, managing director, of McLeod Russel India Ltd., quoted in an interview with Reuters, a global tea shortage will not ease in 2010 and will continue in 2011 as demand continues to outstrip supply, even though production has been ramped up in Kenya, Sri Lanka and India. Poor rainfall affected tea crops and boosted prices in 2009 to record highs.

"The deficit [estimated at 100 million kg in 2009] may reach as much as 130 million kg by April, compared with the 110 million kg forecast in September, and prices may rise to a record again this year as shortages persist," Khaitan, told Reuters.

Tea Stats

India

The Tea Board of India has released figures indicating that from January to October India’s output in 2009 dropped to 830.4 million kg from 2008’s 832.5 million kg, while exports fell 12% to 150 million kg during the same period.

Top-quality Assam tea saw its price increase by about 50% in 2009 over 2008, to Rs130/kg (US$2.81). Analysts believe the price could edge even higher in 2010.

FHA 2010 bigger than ever

Singapore

When the most influential players in Asia’s food and hospitality industry converge in Singapore from 20 – 23 April 2010 at FHA (Food&HotelAsia), they will likely be overwhelmed by the sheer enormity of the exhibition. Expected to feature 2,800 exhibitors from 70 countries, the exhibition is also recognized for the vastness of its offerings, bringing the latest products and solutions from across the globe to the markets in the region.

FHA2010 will also feature the Asia Barista Championship,

Sustainable tea

China

2010 started well for the UTZ certified tea program with the first conference in China on sustainable tea.

The conference, a joint organization of the China Tea Marketing Association together with Solidaridad and UTZ certified was very successful and is regarded as the kickoff event to raise awareness and open the doors to the UTZ certification and traceability program in China.

McLeod Russel buys

Uganda

The world’s largest producer of tea, Kolkata-based McLeod Russel, has paid US$30 million for James Finlay Uganda (JF). The deal will see McLeod Russel taking control of Rwenzori Tea, a wholly-owned JF company, and its six tea estates. JF produces 15 million kg of tea worth about US$30 million annually.

The move is in line with McLeod Russel’s announcement that it was seeking to expand its production beyond India’s borders to account for up to 30% of its total production over the next five years.

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