CHANGE IN PRICE OF TEA

Press, Volume XCII, Issue 27726, 2 August 1955, Page 10

CHANGE IN PRICE OF TEA

“.LOSS CARRIED SOLELY BY PACKERS” All grocers had received rebates on tea stocks when there were decreases in the price in May and July if the’had made a claim, said Mr J. Ellis, a tea buyer for a Christchurch firm of tea packers, yesterday. He was commenting on a statement by Mr R. Dar dat, an agent of Ceylon tea buyers, thaf New Zealand housewives should be thankful for' the stiff competition in tea retailing which had reduced the price at a loss for the grocers. Mr Ellis said that the statement wa.> incorrect. Twp rebates had been paid

and merchants had had stocks credited. “When tea first dropped by. Is per lb, on May 30, all grocers who claimed were given rebates and merchants received credits. Further rebates were given on July 1, when tea was further reduced by 8d per lb,” said Mr Ellis. Mr Dardat also said that the lowest quotation for any type of Ceylon tea landed in New Zealand at that time was 7s per lb. “The estimated average price of tea that was landed in February, March and April from the Purnea, Wairata, and Wairimu was fully 7s per lb to the packer at landed cost,” said Mr Ellis. The rebates permitted the grocers to receive their allowed profits. The losses had been carried solely by the packers, he said.