Web Desk — Pakistani tea lovers may face a possible tea shortage before the arrival of Ramadan due to a significant decline in the import of tea leaves in recent months.
Pakistan Tea Association’s report says that the import of tea leaves has decreased by 52% in just two months, with only 11,940 tons of leaves imported in February compared to 24,765 tons in December.
The tea association reported that containers are being allowed to be released only in case of deferred payments of 180 days by importers. This situation has led importers to import 50% less tea than the monthly demand, causing an imbalance of supply and demand in the market.
Resultantly, the price of tea leaves has increased by Rs 700 per kg in the market from February to mid-March, with the price of leaf increasing from 1100 rupees to 1800 rupees.
Banks, on the other hand, are also not issuing documents for clearance of imported paper on deferred payments of 180 days. Due to this, importers find it difficult to clear their imported tea leaves, exacerbating the situation further.