Low tea prices worry Malawi growers – The Nation Online

Low tea prices worry Malawi growers – The Nation Online: The Tea Association of Malawi (Taml) has expressed concern over continued low tea prices that buyers are offering at its Limbe market, fearing it may affect growers revenue and its contribution to the economy.

Taml chief executive officer Beyani Munthali on Tuesday said on average—as of this month (August)—the prices per kilogramme (kg) of tea is $1.25 (about K925) compared to last year’s $1.95 (about K1 443)

Tea Prices Dwindle

Tea Prices Dwindle: Malawi’s second largest foreign exchange earner, tea continues fetching low on both local and international markets.

Chief Executive Officer for the Tea Association of Malawi Beyan Munthali has attributed this to high production of tea by Asian and East African countries.

"At international market, the price has gone down by 70 cents while locally at Limbe Auction floors it is down by 40 cents," said Munthali.

He said a lot of tea lies in warehouses as the market remains poor.

Tea cartel' formed by biggest producing nations

China is one of the biggest producers and consumers, and will be an observer for now
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Cultural thirst drives premium tea boom in China
The world's biggest producers of tea have agreed to join forces, raising the prospect of a cartel controlling the price of the popular drink.

Following talks in Colombo, Sri Lanka, India, Kenya, Indonesia, Malawi and Rwanda announced the formation of the International Tea Producer's Forum."
BBC News - 'Tea cartel' formed by biggest producing nations:
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Dhunseri acquires tea estates in Malawi

Kolkata, July 28 (IANS) Kolkata-based Dhunseri Petrochem & Tea Limited (DPTL) has acquired tea estates in f Malawi, the company said in a regulatory filing.

The company was in discussions with third parties to acquire tea estates overseas.

DPTL, through its wholly-owned subsidiary Dhunseri Petrochem and Tea Pvt Ltd, has agreed to buy out 100 percent share capital of Makandi Tea and Coffee Estates Ltd and Kawalazi Estate Company Ltd from London-based Global Tea and Commodities Ltd by executing a share purchase agreement (SPA), the company informed Bombay Stock Exchange (BSE) Friday.

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