Shortage of Tea feared before Ramazan; Pakistan Tea Association
Importers say banks are not issuing documents even for clearance of imported leaf on delayed payments of 180 days
Convener Pakistan Tea Association Zeeshan Maqsood has said that difficulties are being faced in the import of tea leaves due to which there is fear of shortage of tea leaves before the arrival of Ramadan.
He disclosed this in his statement yesterday. Zeeshan Maqsood said that the import of tea leaves decreased by 52% during the last two months, 11 thousand 940 tons of leaves were imported in February.
The convener of Pakistan Tea Association said that in February, leafs worth 27.7 million dollars was imported in December, the volume of leaf imported was 24 thousand 765 tons.
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He has said that $62.8 million worth of leaf was imported in December, allowing the release of containers only on 180-day delayed payments.
On the other hand, market sources say that from February to mid-March, the price of tea leaf has increased by Rs. 700 per kg, the price of a leaf in the market has increased from Rs. 1100 to Rs. 1800.
Importers say that they have been importing 50% less tea than the monthly demand, there is a possibility that the price will increase due to the imbalance of supply and demand.
Importers say that banks are not issuing documents even for clearance of imported leaf on delayed payments of 180 days.
