Assam Floods: Tea Shares Rejoice Owing To Clearance Of Carryover Stocks

The danger of the flood looms large in the state of Assam as the water levels of Bramhaputra and tributaries are flowing above the danger mark. The Assam Disaster Management Authority (ASDMA) has voiced warnings for Karimganj and Hailakandi districts, situated on the banks of the Barak, in south Assam.

If the water level crosses the danger mark in Karimganj, it will affect Nilambazar, Karimganj town, RK Nagar and Patharkandi. Floods in Hailakandi district will affect Hailakandi and Algapur towns. At present, there is a low flood situation, ASDMA state coordinator, Rajib Prakash Baruah said. 

The market is worried about the flood conditions in Assam and insiders believe that it might impact the overall production of tea. As Assam, West Bengal contributes significantly to the tea export of the country.

The production of the tea industry is likely to get impacted by the incessant rain. The insiders believe that this will help in clearing the carryover stock that will further affect the auctions that are due.   

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