McLeod Russel makes foray into green tea market
McLeod Russel, the world's largest black tea producer, is set to enter the green tea market by acquiring a tea processing factory in Vietnam. This marks an important strategic shift for the tea giant, traditionally centered on black tea production, particularly in the region of Assam in India. While black tea is popular in the West, many Asian countries predominantly consume green tea, which also fetches higher prices compared to black tea. That said, green tea prices are sensitive to the quality of the leaves and processing. According to the company, the new site, which cost $820,000 to acquire, will only serve to process green leaves, with production to follow in the future.