TEA FRIGES REDUCED.

Star (Christchurch), Issue 19986, 29 June 1920, Page 8

TEA FRIGES REDUCED.

FALL OF 3d PER LB. OPERATES FROM JULY 1. [Per Press Association.l * DUNEDIN, Juno 29. Owing to the stabilisation of . the rupee at two shillings, the cost of landing tea in Now Zealand has been reduced considerably, with the result that the price of leading proprietary blends throughout New Zealand will be reduced as from July 1 by threepence a pound.

THE POSITION LOCALLY,

A leading Christchurch grocery firm received ward to-day that the price of one well-known blend of tea will be levered from 4s to 3s 9d a pound as from July 1. Socond-grado teas will drop from 3s 9d to 3s 6d. llie manager of a tea importing company taid that tha fail was solely due to the action of the Imperial Government m stabilising the rupee, which nad been worth as much as 2s lid a few months ago. Though the change would be beneficial to Empire trade generally p it would certainlv hit hard many Now Zealand merchants who had bought heavily at the old price. Some finals stood to lose thousands. “There will be no further drop for some'considerable time, unless people get in a tuuk, aiij then it will drop only to nse again/ * 1 J v

Another tea merchant S! :id that the new pnoes wore as follows ;-B 6s t blends 3s 9d a pound, second-grade 3s 6d, and inferior blends 3s 4d all re ta ‘ ii c 1 ? 10 tea at 33 4d a Pound was really 8d poorer than that at 9d