Tea prices soar on significant shortfall
Tea prices hit record highs this week, as simultaneous droughts in biggest producing countries tightened supplies. Prices are up 25% since January and auctions in Mombasa, Colombo and Calcutta continue to witness gains in value on the back of a healthy 4.8% rise in global consumption last year. Earlier this year, the United Nations' Food and Agriculture Organization said there was a "significant" shortfall in tea supply.