Business   

Iran may resume tea imports

By Our Staff Correspondent

KOLKATA MARCH 7. The ongoing India International Tea Convention, 2003, has `good news' for the Indian tea industry. Addressing the session on `India's key markets' Mehdi Gerami, President of Phoenix Gulf FZE, one of the most prominent UAE based packer and re-exporter of tea and other commodities, said there were some indications that Iran might lift its existing ban on tea imports in the next Iranian year beginning March 21. He had also urged the Indian authorities to open bilateral dialogue with Iran on the issue.

Phoenix used to export over 10,000 tonnes of teas, mainly Indian teas, to Iran till the ban was imposed two years ago.

The latter used to import about 50,000 tonnes of tea in addition to its domestic production of 60,000 tonnes. Apart from India, the company also sourced tea from Sri Lanka and Kenya. The ban was imposed to promote the domestic tea industry in Iran which produces low quality teas and were having a large inventory of over two lakh tonnes piled up over the years.

While the Tea Board sources expressed ignorance to the developments in Iran, Mr. Gerami told The Hindu that the decision (to lift the ban) could be taken primarily to pursue Iran's effort to be a part of WTO and most importantly to cool down the growing discord on the home front from the consumers and strikingly also from the domestic tea industry.

Printer friendly page  
Send this article to Friends by E-Mail

Business

News: Front Page | National | Southern States | Other States | International | Opinion | Business | Sport | Miscellaneous |
Advts: Classifieds | Employment | Obituary |

Stories in this Section

• Tata Tea refinances £ 174 m Tetley debt
• New pension, health schemes get Rs. 100 cr.
• Budget 2003 — Signalling a lower interest rate regime
• Ashok Leyland sells more in Feb.
• Nervousness grips market
• Sundaram Brake's efforts to go asbestos-free
• Iran may resume tea imports
• Honda to make Indian arm export hub
• War fears take fresh toll on rupee
• New technology for radiators
• Stock Market Index
• Exchange rates
• Bullion rates
• Nestle net up 16 p.c.
• Acer to bundle Epson printer, Britannica
• VA Tech's expansion

Copyright © 2003, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu