JTIL plans tea garden acquisition, fertiliser unit to reopen

JTIL plans tea garden acquisition, fertiliser unit to reopen
PTI
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First Published: Mon, Jun 29 2009. 02 30 PM IST
Updated: Mon, Jun 29 2009. 02 30 PM IST
Kolkata: B K Birla group company Jayshree Tea and Industries Ltd (JTIL) Monday said it is scouting for tea gardens in India and overseas and would reopen its fertiliser unit soon.
“We are keen about acquiring large tea gardens both in India and overseas. But, there are hardly any offers in India. In the global market we are aiming at Uganda and Kenya,” Jayshree Tea managing director D P Maheshwari told reporters.
“Some of the bankers are working for us in identifying gardens. We are interested in large tea gardens which can produce 15 million kg,” he said.
The total production by the company during this year is expected to touch 23 million kg of which three to four million kg would be bought leaves. In 2008, the production was 21.8 million kg.
The company was also going ahead with organic tea production plans but would restrict itself to Darjeeling gardens due to increase in costs.
“We have received certification for one garden and are close to get for two more. We have begun the process in another garden for organic status,” Maheshwari said.
JTIL director and B K Birla’s daughter Jayshree Mohata said tea prices are likely to improve by another Rs22 per kg during this year due to the global shortfall in production.
“Global shortfall in crop was estimated at 77 million kg. In India it is 25 million kg but will increase by another five million kg,” Mohata said.
Speaking about the chemical and fertiliser business, Maheshwari said the unit will be reopen in July after it was closed in March this year itself due to slump in price and demand.
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First Published: Mon, Jun 29 2009. 02 30 PM IST