World tea prices soar on poor harvests
The Financial Times reports that tea prices have risen by as much as 35% in the past year due to adverse weather conditions in main exporting countries. Output falls in India, Kenya and Sri Lanka have driven prices above last year's record levels. The United Nations' Food and Agriculture Organisation, which tracks global tea supply and demand, says there is a "significant" shortfall in supply, whereas the demand is said to have grown by 4.8 percent last year.