News
Nearly half of Darjeeling tea estates are on sale
BY S VENKAT NARAYAN Our Special Correspondent
NEW DELHI, September 15: Nearly half of Darjeeling’s tea estates in India’s West Bengal state, numbering around 35-40, are up for sale as planters are unable to run the operations smoothly in the absence of international buyers from Europe and Japan who used to buy good volumes of Darjeeling tea, and increasing production cost.A liquidity crisis, high wages and falling tea prices are impacting the profitability of Darjeeling planters, forcing them to look out for buyers. Recessionary pressure in Europe, a top export destination for Darjeeling tea, is keeping buyers away from this premium brew.
Japan has reduced buying from Darjeeling since 2017, when agitation in the hills stopped operations of the estates for four months. Japanese buyers never came back with full vigour since they were sceptical about supply issues.Local real estate players are looking at buying these gardens so that they can convert 15% of the estate land to resorts and start tea tourism. The West Bengal government has allowed the use of 15% of tea estate land for tea tourism. There are 87 tea estates in Darjeeling.
Anshuman Kanoria, a Darjeeling planter and Chairman of the Indian Tea Exporters Association (ITEA), said: “The Darjeeling industry is going through a financial crisis. Nearly 40-50% of the gardens are looking for buyers. If they get fair prices, they will sell them. It is becoming difficult for them to run the show.”
A senior planter, who did not want to be named, said: “The big groups are not willing to sell off their gardens. Those planters who have single estates are more keen to sell their gardens. They are testing waters and if they get a good price, they will sell off.”
Darjeeling’s tea industry used to produce around 11 million kg of tea around a decade ago, which dropped to 6.7 million kg in 2021. Despite the drop in production, there is no commensurate rise in demand in both domestic and international markets.
“In such a situation, the industry does not have the capacity to support its 55,000 permanent workers,” said Sandeep Mukherjee, the Darjeeling Tea Association’s principal adviser.
Latest News
President appoints committee to submit recommendations to the Government on the new US tariff system
President Anura Kumara Disanayake appointed a committee to conduct an in-depth study on potential issues that may arise due to the new reciprocal tariff system introduced by US President Donald Trump and to submit recommendations to the government.
Accordingly, the committee includes the Secretary to the Ministry of Finance, the Governor of the Central Bank, the Chairman of the Board of Investment of Sri Lanka, the Chairman of the Sri Lanka Export Development Board and the Director General of Economic Affairs at the Ministry of Foreign Affairs.
Additionally, Senior Economic Advisor to the President Duminda Hulugamuwa, Chief Economic Policy Advisor to the Ceylon Chamber of Commerce Shiran Fernando, as well as Ashroff Omar, Sherad Amalean and Saif Jafferjee have also been appointed to the committee.
Eksath Janaraja Peramuna (EJP) yesterday complained to the Election Commission (EC) regarding President Anura Kumara Dissanayake’s recent threat that the government would release funds only to local government bodies to be won by a clean party at the May 06 LG polls.
The EJP, led by former Minister Patali Champika Ranawaka, complained that President Dissanayake has claimed during a public rally at Weligama that the NPP was the only clean party.
The EJP is contesting 37 LG bodies at the forthcoming election.
The new party said that the rights of the other contesting political parties and groups had been violated by the President.
The EJP asked the EC to ensure a level playing field
Having handed over their complaint, EJP spokesman Theekshana Gammanpila told the media outside the EC office that Anura Kumara Dissanayake had won last year’s presidential election and then the parliamentary election as the then government ensured a free and fair election. But now President Dissanayake was making a despicable attempt to influence the electorate in the run-up to the vital mini polls. Gammanpila alleged that the President’s intervention could have a far reaching impact on the electorate.
The EJP spokesman emphasised the responsibility on the part of the EC to intervene and take tangible measures to prevent President Dissanayake from manipulating the electorate to their advantage. (SF)
Former North Central Province Chief Minister S. M. Ranjith and his private secretary Shanthi, who is his brother, former Minister S.M. Chandrasena’s wife, were yesterday (02) sentenced to 16 years rigorous imprisonment after being found guilty of corruption charges. They were also ordered to pay a fine of Rs. 200,000 each.
The judgment was delivered by Colombo High Court Judge Aditya Patabendi.
They were convicted on charges filed by the Commission to Investigate Allegations of Bribery or Corruption.
S.M. Ranjith was found guilty of enabling Shanti to secure an additional fuel allowance between Sept 2012 and Dec 2014 to the tune of Rs 2.68 mn.
President appoints committee to submit recommendations to the Government on the new US tariff system
Israel’s Netanyahu heads to Hungary in defiance of ICC arrest warrant
Myanmar military announces temporary truce as quake death toll passes 3,000
-
Sports5 days agoSri Lanka’s eternal search for the elusive all-rounder
-
News4 days agoBid to include genocide allegation against Sri Lanka in Canada’s school curriculum thwarted
-
News6 days agoGnanasara Thera urged to reveal masterminds behind Easter Sunday terror attacks
-
Business7 days agoAIA Higher Education Scholarships Programme celebrating 30-year journey
-
News5 days agoComBank crowned Global Finance Best SME Bank in Sri Lanka for 3rd successive year
-
Sports13 hours agoTo play or not to play is Richmond’s decision
-
Features5 days agoSanctions by The Unpunished
-
Features5 days agoMore parliamentary giants I was privileged to know