Bumper tea crops translate to lower prices
BUMPER tea crops in India, Kenya and Sri Lanka have led to falling tea prices at auction.
High-quality teas are managing to sustain their premium price, according to J Thomas, the worlds largest tea-broking firm.
Russias return to the Indian and Sri Lankan auction centres in November has also bolstered prices of medium grades of orthodox and CTC (crush, tear and curl) teas to recover.
India increased total tea exports by 8.36m kg to 171.10m kg in the first 10 months of 1998.
Growth in demand came from Iraq, the UK, Ireland, Saudi Arabia, the UAE, the US and Japan.