National
Favourable trend in realisations likely to hike tea company-margins: ICRA
Kolkata, Dec 28 (IANS) With tea prices firming up at North Indian auction centres backed by healthy demand and stagnant production in the domestic market, margins of most large bulk tea producers are expected to be expanded in the current fiscal, said a study released on Thursday.
“This firmness in prices at North Indian auction centres is likely to sustain for the remainder of the current fiscal, thus supporting margins and debt coverage indicators of most large bulk tea producers based out of North India in FY2018,” rating agency ICRA’s study noted.
According to the study, prices at South Indian auction, however, have been impacted by higher production levels. Nonetheless, most large bulk tea players in South India are unlikely to witness any material contraction in operating profitability in the current fiscal, as the increase in production would largely negate the impact of lower prices.
“The stagnant production, higher exports, given the shortfall in Kenyan production and healthy domestic demand, prices have firmed up considerably for North Indian producers as the season progressed,” said the agency’s Vice President and Sector Head (Corporate Sector Ratings) Kaushik Das.
According to him, a large carryover stock, on account of surge in production towards the end of the previous season, had weighed on prices at the beginning of the current season.
Overall global tea production for the calendar year 2017 is likely to remain below last year’s levels, albeit marginally, based on historical trends.
While Sri Lankan production is likely to record some increase over the previous year and Indian production is expected to remain largely stable, a shortage of around eight per cent is expected to be sustained in Kenyan production for 2017.
“Thus, the Kenyan crop loss is likely to continue to weigh down on overall production levels for CY2017 (calendar year 2017).
“This has kept prices strong on the global front, with Sri Lankan prices touching $4.06 per kg during ten months of CY2017, as against $3.10 per kg in the corresponding previous months, and Kenyan prices standing at $2.99 per kg in the current year, vis-a-vis $2.32 per kg during ten months CY2016,” the study added.
–IANS
bdc/umer/rn/dg
National
Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok
Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.