Crisis in tea industry

Over the past few weeks, the Tea Industry has attracted considerable media attention due to the sharp decline in prices at the Colombo Tea Auction and the consequent implications on every sector of the Industry.

Whilst there is no denying that a crisis does exist, it is the Industry's view that various misconceptions and distortions have been created through reports, which represent personal perceptions or ambiguous views, attributed to sources, both within and outside the Industry, who have, additionally, been misquoted and hence, do not necessarily epitomise, either partly or wholly, the true situation.

This has led to negative publicity and misleading signals being disseminated to the Industry, said a media release from The Colombo Tea Traders' Association.

The Colombo Tea Auction, held under the auspices of the Ceylon Chamber of Commerce, the Precedent Business Chamber in the country, set up in 1839, and managed by the Colombo Tea Traders' Association, the Apex Body of the Tea Industry, established in 1894, is the world's largest single-origin tea auction and is acknowledged as the most professionally, transparently and efficiently conducted.