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Saturday, 17 March 2012 - 13:54
Sri Lanka tea trade warns of lower orders and prices
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Sri Lanka's tea trade has warned that tea export orders and prices could fall in the months ahead as crops rise and consumption falls off in key markets.

The Colombo Tea Traders’ Association stated that money raised from an export tax for tea promotion should be spent on promoting the product in new markets like India and China as demand from traditional markets in the West and Middle East wanes.

The Colombo Tea Traders’ Association said in a statement that a general trend of declining prices and demand have been experienced at the auctions over the past many months and is likely to continue in the foreseeable future

It added that this was mainly the outcome of the prolonged political turmoil in the West Asian and North African regions, the international trade sanctions imposed on certain countries and the economic dilemma faced by many countries world-wide.

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