PRICE OF TEA.

Manawatu Standard, Volume LXI, Issue 194, 18 July 1941, Page 4

PRICE OF TEA.

A SHARP RISE

(Press Assn.) AUCKLAND, July 17. An increase of 4d to 5d per lb has been made in the price of packet teas, The advance, which has been sanctioned by the Price Tribunal, will raise the prices of most packet teas to over 4a per lb, the highest Tor many years. After having had empty shelves the tea departments of all firms are now engaged at high pressure blending and packing a large shipment of over 10,000 chests which has reached Auckland from overseas. So short bad the supplies on the local market become that some packers had temporarily closed their departments. The arrival of supplies has relieved the shortage. The sharp advance which has taken place in the local price is a reflection of the steep rise that lias occurred in the Colombo market in recent months, together with higher costs of freight, insurance, etc.

REASONS FOR INCREASE

(Press Assn.)'WELLINGTON, July 18. 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 shipping freights, insurance, and other incidental charges borne by tea on the way to its final destination in grocers' shops have been substantially increased. Tea stocks were at a low ebb till a. recent heavy shipment arrived, and packers are' working at top speed togot this into the wholesale and retail stores. At the increased prices Now Zealand imports of tea run to 11,500,000 to 12,000,0001 b a year.