TEA PRICES IN BRITAIN

Press, Volume XCI, Issue 27586, 17 February 1955, Page 14

TEA PRICES IN BRITAIN

Scheduled Increases Cancelled VALUES FALL AT AUCTION (NZ. Press Association—Copyright) (Rec. 12.20 ajn.) LONDON, Feb. 16. British housewives have won a victory in the fight against the rising grice of tea and most leading firms ave decided io cancel price increases of from 8d to Is per lb, scheduled for the end of February, the “Daily Mail” said. The tea had already been packed and labelled at the higher prices and must now be repacked. The “Daily Mail** said the cancellation of the price rise followed a sensational fall in wholesale prices for tea towards the close yesterday at London’s big Mincing Lane tea market. Bidders on behalf of the big teablending firms had realised the determination of housewives to drink less tea unless price increases in the shops were cut. The drop in the market price began slowly, but by late afternoon developed into “a cataract.” Medium brands of Ceylon tea fell by as much as Bd, and inferior grades by as much as Is. For better South India tea, prices also fell.