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The recent increase in tea prices may sustain in the medium-term on the back of expected gap between demand and supply in India and shortage of carry-forward stocks at the beginning of the 2010 season globally, according to study by rating agency ICRA. Tea produced in the Northern region may fetch a better price for its quality compared with southern states.
The upside in prices would continue to be influenced by the tea growers' ability to maintain their export competitiveness, a critical component of the domestic demand-supply equation. In the first nine months of 2010, production of tea in North India suffered on account of adverse weather and pest attacks in tea gardens. Notwithstanding a sizeable increase in output during September, production for the nine months was down by about 10 million kg, with the shortfall encouraging tea prices to firm up further.
Consequently, the cumulative average price at North Indian auctions was up by over Rs 4 a kg by September 2010. Prices at the auction centers in South India, however, witnessed a significant decline in the first nine months of 2010, by almost Rs 15 a kg, on account of an increase in production. Although prices witnessed a sizeable decline of around 18 per cent y-o-y, it was still up by about six per cent over the corresponding period in 2008.
With exports accounting for more than a third of South India's production, and given that the average quality of tea produced in this region is inferior to that produced in Sri Lanka and Kenya, the increased supplies from these two countries affected South Indian tea prices, both in the export and domestic markets. Although production in Kenya and Sri Lanka witnessed a significant increase of about 119 m kg (about 29 per cent), year-on-year, prices at the global auction centers remained buoyant on the back of the large opening shortage and continued growth in demand.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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