Economy

xchrom

(108,903 posts)

29. 'Tea cartel' formed by biggest producing nations

Reply to Tansy_Gold (Original post)

Wed Jan 23, 2013, 10:11 AM

Jan 2013

http://www.bbc.co.uk/news/business-21163357

China is one of the biggest producers and consumers, and will be an observer for now

The world's biggest producers of tea have agreed to join forces, raising the prospect of a cartel controlling the price of the popular drink.

Following talks in Colombo, Sri Lanka, India, Kenya, Indonesia, Malawi and Rwanda announced the formation of the International Tea Producer's Forum.

The nations control more than 50% of global production.

Sri Lanka's Plantations Minister Mahinda Samarasinghe suggested that quotas could be created in the future.

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