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| Monday, 2 February 2004 |
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Tea fraud has drastic effect on Trade by Steve A. Morrell Recent investigations into the tea fraud left its debilitating influence on the tea Trade. Revelations so far although inconclusive, have had retrograde impacts and Tea Brokers were unanimous in their reaction that it was not an exaggeration that the market has been affected by as much as 10% of total production. The quantitative loss in foreign exchange co-relating to the volume of tea surreptitiously exported was in excess of 3 million kilos. This coupled with the immediate loss of selective markets where Ceylon tea was rejected, had harmed the country's reputation and image to the extent that repercussions would be felt long into the future. Especially destinations where these teas were shipped, brokers said. Further comments from Brokers was that this 'Mafia' ring had continued this fraud for many years but it was only recently that bulk volumes had increased. At point of production Daily News we spoke to a few Planters who said that the Tea confiscated in its reported form was only used as compost and recycled as fertiliser after a breaking down process which would take at least six to eight months. Refuse Tea usually amounts to approximately 2% production in terms of volume, they said. |
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