Mcleod Russel to shift focus from export to domestic market:MD

Kolkata, Jul 30 (UNI) With the rupee appreciating against the dollar, Mcleod Russel India Ltd is shifting its market focus from exports to domestic sector.

Speaking to mediapersons at the AGM of the company, Mcleod Russel Managing Director Aditya Khaitan said,''We have reduced our export target to 22 million kgs this year from 25 million kgs last year mainly due to rupee appreciation.'' Last year, Mcleod's exports touched 25 million kgs, with a revenue of Rs 250 crore, mainly bacause of crop shortage in Kenya, he said adding that they would penetrate in the dometic market aggressively this year.

The company's total production stood at 75 million kgs last year and its main export markets are Germany, Ireland, America and Iran.

These are mainly the buyers of Kenyan tea.

''In order to increase its foothold in Africa through acquisitions. We are trying to strengthen our position in African market but the response had been lukewarm,'' he added.

Elaborating the company's plans about production increase, he said the company would increase its orthodox production from 3 million kgs to 10 million kgs in this fiscal with a capex plan of Rs15 crore.

UNI