PRICE OF TEA
No Change Expected (N.Z. Press Association) WELLINGTON, July 23. The removal of tea from price control is not expected to result in any increase in its cost. The possibility of any rise was described as “most remote” by a representative of the Wellington wholesale tea trade today. He said the margin of profit for the retailer of 91 a lb under control had been retained for more than 10 years. “Considering the big turnover which tea gives, it has provided an ample return for the grower,” he said. If some groceries considered raising the price by an extra 2d or 3d a I’b, he did not think others would follow.
“If there was a rise, I think it would result in price cutting,” he said. The current costs are 6s lOd a lb and 3s 5d a half-pound. Two weeks ago the price was raised 4d a packet, but this was a uniform on-cost applied throughout ail sections of buying and selling because of high price of tea overseas, he said.
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Bibliographic details
Press, Volume CIV, Issue 30811, 24 July 1965, Page 3
Word Count
174PRICE OF TEA Press, Volume CIV, Issue 30811, 24 July 1965, Page 3
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