Dry spell, soaring prices fuel rally in tea stocks
March 31st, 2009
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Tea stocks are buzzing post reports of tea prices ruling at decade high. Stocks like Mcleod Russel, Harrisons Malayalam, Williamson Magor, Assam Company have gained anywhere in the range of 8-9%. Reports suggest that tea prices in the new season are ruling at very high prices on fear of global shortage. India and Sri Lanka, the two leading tea producers are facing shortage to meet their tea output. A whopping 10% loss of tea crop in March itself has led tea prices in the Indian markets to soar.