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Global tea prices rise unexpectedly

from STiR

Global tea prices rise unexpectedly STiR Tea prices are off their pandemic-induced high in May but remain higher than expected, given the huge surplus normally consumed at restaurants and cafes. India, Sri Lanka, and Kenya all report increased prices at auction with some record-setting buys, defying on first appearance the rules of supply and demand. A spike in domestic prices prompted Indian tea traders to push for a relaxation of import taxes that add 100% to cost. READ MORE

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