Commodities
Rising lease rates help gold recover
GOLD last week was supported by rising lease rates and currency gains, but not before touching its lowest level since September 20, 1999 of $255.95 per ounce. The metal ended the week at $258.80/oz (London PM fix), up 0.4 per cent week-on-week. Silver ju st about managed to hold on to its previous level.

Tea
Tea: Glimmer of hope
THE year 2001 looks to be marginally better for the tea industry than 2000. Any improvement will be welcomed by an industry that is going through a severe crisis at the moment. The year 2000 was quite a turbulent year for tea as it saw an unabated fall i n prices, prompting growers in the Nilgiris taking to the streets for fear of losing their livelihood. Prices touched all-time lows on account of fears of imports entering the markets, a fall in exports and a general recession in the industry. Neverthele ss there is a glimmer of hope in the form of an improvement in prices in the last couple of months coupled with a few Government initiatives that might yet save the industry.

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