Darjeeling tea growers want dollar pricing
DARJEELING tea growers are pushing for the prices of their produce to be quoted in dollars instead of rupees at the Calcutta auction in a bid to lift earnings. They have the support of the Indian Tea Board.
Most of the tea plantations are losing money because of high production costs and low output. The depreciation of the Indian currency has meant the price of Darjeeling tea in dollar terms has remained unchanged in the last 20 years, according to PK Sen, chairman of J Thomas, one of the worlds largest tea broking houses.
- Financial Times 02/04/98 page 41