Down but not out: Is this commodity industry at the trough of its downturn?

Initially written off, but later celebrated. There's no dearth of such success stories in the Indian markets. Take, for instance, the current star performers like real estate, steel, oil, and coal that were prophesied as bad investments until a few years ago. But their investors are now having the last laugh. A key commonality shared by these industries is their cyclicality. As their cycle turned, so did their fortunes. A similar story is perhaps in the works in the tea plantation sector that has been sentenced into oblivion and for good reasons, too. But what if it has reached its nadir and cannot fall any further? Leaving a bad taste Tea plantation companies have remained laggards for the past many years. They have generated a median return of -30 per cent since 2018. Mcleod Russel, for instance, has slumped over 87 per cent during this period, primarily because of the company's mismanagement, but also due to sectoral headwinds. What plagued the sector? Global tea prices have been stagnant in the last ten years due to oversupply from Africa. To no one's surprise, this hit India hard, which is a key e