Tea prices may rise
(N.Z.P. A.-Reuter—Copyright) COLOMBO, April 28.
The cost all over the world of a cup of tea will rise if Sri Lanka and India, the principal tea-producers, put into practice their plan to ensure higher prices for their crops. The Sri Lanka Minister of Industry (Mr Colvin de Silva) said yesterday that the two countries were seeking support from Indonesia, and from tea-producing countries in East Africa, for a scheme for a floor, or minimum, price fo, tea.
Mr de Silva told the Sri Lanka Planters’ Association: “We are now making a new approach to tea prices to ensure a better future for the commodity.”
India and Sri Lanka produced between them more than 80 per cent of the world’s tea last year. Tea 'earned 48 per cent of all Sri Lanka’s foreign exchange ; n 1973, a drop of 10 per cent from the previous year. Production in 1973 was the lowest since 1961.
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Bibliographic details
Press, Volume CXIV, Issue 33520, 29 April 1974, Page 13
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157Tea prices may rise Press, Volume CXIV, Issue 33520, 29 April 1974, Page 13
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