Jay Shree Tea & Industries Ltd expects to produce 22 million kgs of tea in 2008-09, up from 18.5 million kgs produced in 2007-08, according to BK Birla, chairman of the company. Jay Shree Tea, which has gardens in Assam and Darjeeling, would export tea worth Rs 60 crore in 2008-09 as against Rs 49 crore last year, he said.
Birla, who was present at the 62nd annual general meeting of the company here on Friday, said in his director’s report that the company has increased production of Orthodox tea in Assam as the demand for this variety at international markets was higher. “Though the general tea market has improved, it is far below the 1998-99-level,” Birla said.
Birla said Jay Shree’s gardens in Darjeeling were closed for three days in June as a result of agitations for a separate Gorkhaland state. “Things have started becoming normal in Darjeeling,” Birla said.
Jay Shree Tea posted an income of Rs 311 crore in 2007-08 compared with Rs 278 crore in the previous fiscal.
