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Not tea, McLeod to sell gardens

DNMUM420005 | 8/10/2018 | Author : Sumit Moitra | WC :565

MEA CUPPA: Co to source cheaper raw teas from unregulated players

Kolkata: McLeod Russel India, the largest tea producer in the world, is radically changing its business model with plans to sell several of its tea gardens after doing a detailed study of all its 55-odd estates in the country, its managing director Aditya Khaitan said.
The company recently inked deals to sell 12 of its plantations for an aggregate price of Rs 472 crore, a process which it would continue to follow as sourcing cheaper raw teas from unregulated small-scale players is turning more sustainable and economical than growing own tea at its regulated gardens.
“We may exit out of 10-20 million (kilogram of production capacity) in terms of tea gardens but we will add that (by sourcing from small growers) in the next two-three ye
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