TEA PRICES UP

Auckland Star, Volume LXXII, Issue 168, 18 July 1941, Page 6

TEA PRICES UP

OPERATES IMMEDIATELY STOCKS KKIMJKNISHKD Consequent on sharp rises in the Eastern markets the price of most brands of tea has been increased by about 4d a lb, bringing the price per packet to over 4/. The change has been authorised by the Price Tribunal. Owing to the depleted stocks in the shops the new rates will operate immediately.

Merchants are at present engaged in packing and blending supplies received from two shipments at Auckland and Wellington respectively. Stocks have been at such a low ebb that most departments have been closed down, and it is the fact that such a long delay has occurred in shipments that is responsible for the sudden jump in prices since there had been a steady appreciation in values overseas since the previous shipments.

Three of the largest packers in the Dominion have not yet increased their price, but their stocks are very low, and when the new lines are placed on the market they can be expected to follow the general trend. Prices of some popular brands have been increased from 3/9 to 4/ or to 4/2.

REASONS FOR INCREASE

TRICES AND CHARGES (P.A.) WELLINGTON, this day. The increase in the price of tea arises from rising prices in the Colombo market and corresponding increases in other markets. Not only have prices advanced sharply in the countries of origin, but snipping freights, insurance ar.i other incidental charges borne by the tea on the way to its finai destination in grocers' shops have been substantially increased.

Tea stocks were at a low ebb till the recent heavy shipment arrived, and packers are working at top speed to get this into wholesale and retail stores at the increased prices. New Zealand imports of tea run to 11.500,000 to 12,000,000 pounds a year.