THE PRICE OF TEA
The fall in tho value of tho Indian rupee from 2s. Bd. to Is. lid. is, according to a local tea. merchant, going fo bring down tiie price of tea pretty suddenly, and involve holders of stocks purchased at recent high values in considerable loss. "I exp?ct to see the price drop 6d. per lb. almost at once," said our informant, "as very big stocks aro held in Australia, and merchants will want to quit their high-priced tea as soon as possible, so as not to bo faced with, too big a loss, for tho reduction may be forced on all. by the action of a fow who cannot take the risk of holding on. ; The New Zealand stocks aro also pretty heavy, and as they have all been bought with tho rupee standing at from 2s. 4d. to 2s. Bd., there emr scarcely fail to be a heavy loss entailed in clearing out these high-priced stocks. It was generally thought that tho rupee could not 'stay put' so high, but all tho buyore reckoned on a gradual drop/ penny by penny, instoad of a big drop of 9d. It's going to hurt some of u*l"
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Dominion, Volume 13, Issue 231, 24 June 1920, Page 4
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200THE PRICE OF TEA Dominion, Volume 13, Issue 231, 24 June 1920, Page 4
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