London, Jan. 3: The “Evening Standard” says that with the resumption of sales in tea market this week a big effort will be made to defeat brokers whose operations are alleged to have brought the market to confusion. Mincing Lane is preparing for the biggest battle the tea trade has ever witnessed. The paper adds that the recent enormous speculative purchases of tea for resale by bidders who have been able to outbid competitors has had the effect of steadily raising the market price by at least six pence per pound. In the event of efforts to defeat brokers being successful, there is every prospect of substantial reduction in retail prices. The Royal Commission on food prices has had its attention drawn to the position.
Published – January 06, 2025 03:01 am IST
