Higher output adds to industry's woes; Major buyer Iran is not operating at the level it normally does

 

Tepid interest from major importing countries is telling on orthodox tea which had a stellar run last year.

 

There was frenetic buying of Indian orthodox last year as Sri Lanka, the world’s largest supplier of the variety, faced an economic crisis. That took auction prices to a record high. But the panic has subsided this season even though the island nation is no closer to its peak production. And it is playing out on auction prices.