Tea prices on the rise

As drought rages in multiple tea-growing countries like Kenya, India and Sri Lanka, tea consumption is also increasing leading to a surge in tea prices. Like oil, tea is traded in dollars, and with the dollar regaining a lot of lost ground against the British pound and other currencies, the surge in prices is likely to have only a moderate effect in the US. I’d give you a link for that info about the US price of tea, but we don’t drink enough of it for it to be an issue worth reporting on here, so I’m just speculating. Major tea consuming-countries, like Australia, Russia and England will likely see much greater price increases. Also like oil, rising prices can be expected to have mixed effects on people in tea producing regions. Most likely, the rich will get richer and the poor will get poorer. It’s an old story.

Posted on April 1st, 2009 by Katxena