Pakistan: Tea prices spike ahead of Ramadan
Islamabad: Cash-strapped Pakistan is witnessing a spike in the price of tea, adding more troubles in the lives of consumers in the country, media reports said on Sunday.
The price of tea is witnessing a rise ahead of the Ramadan month.
The price of black tea (loose) has swelled to Rs 1,600 per kg from Rs 1,100 in the last 15 days as around 250 containers are still stuck at the port that arrived from late December 2022 to early January, reports Dawn News.
After Jan 21, banks had filed financial instruments thus allowing only those importers to pay duties who received 180 days defer payment telex from their suppliers. But the containers of those who failed to get this facility from their suppliers are still stranded at the port.
A retailer said a leading brand has raised the price of 170-gram Danedar and Elaichi packs to Rs320 and Rs350 from Rs290. The 900 and 420-gram packs now cost Rs1,480 and Rs720 as against Rs1,350 and Rs550. Other packers are set to follow suit.
Zeeshan Maqsood, Convener Standing Committee of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Tea, told Dawn News that imports are currently under crisis which may lead to huge shortages in March.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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