HIGH PRICE OF TEA

Wairarapa Times-Age, 18 November 1941, Page 5

HIGH PRICE OF TEA

— ■■■ FURTHER SUPPLIES RELEASED. IN ORDER TO STABILISE VALUES. 6 (By Telegraph— Press Association.) VZELLINGTON, This Day. Because of the high prices of tea on the Colombo markets, the International Tea Committee has decided to release an extra 10 per cent, or 80,000,0001 b for sale during the next 12 months. A statement to this effect was made yesterday by the New Zealand Food Controller, Mr J, E. Thomas. The effect, he said, would be to tend to keep market prices from rising further. No increase was expected in the Dominion’s imports of tea, roughly 12,000,0001 b a year, because this amount was sufficient to meet all requirements. There was no local shortage of tea, nor were there any restrictions on tea imports. Since the war began the price that the New Zealand consumer pays for tea has increased by an average of about Is a lb. On September 1, however, the price was stabilised by the Price Tribunal. Any increases after that date will be met by subsidy credits by the Government, which will be recouped from importers by way of debits when the price of tea falls again. ■ ,* In Australia the price of tea has increased by Is Id a lb since the outbreak of war.