Lockdown: APPL sees 2-2.5 mn kg crop loss, bottomline hit

Kolkata: Amalgamated Plantations Private Ltd (APPL), the second largest tea producer in the country, has suffered a crop loss of 2-2.5 million kg due to the lockdown, an official said Sunday.

Formed after the demerger of erstwhile Tata Tea’s north Indian plantations, APPL has 21 estates in Assam and four in West Bengal.

“We are expecting an adverse impact on the bottomline this year due to crop loss of around 2-2.5 million kg during the lockdown,” the company’s newly-appointed MD and CEO Vikram Singh Gulia said.

It had produced around 44 million kg of tea last year.

Gulia said the industry is expected to lose around 150 million kg of tea this year in the wake of the lockdown and the prices have not been positive enough to overcome the loss.

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“Of late, tea prices have started rising but the industry is highly stressed due to huge fixed costs,” he said.

The company has deployed 100 per cent workforce in its gardens in Assam and West Bengal, and is also getting full support from the workers and unions.

The tea producer has diversified into dairy, fisheries and spices.

“We have plans to enter into speciality tea sector,” he added.

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