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Iran sees growth in tea prices

Business Materials 2 July 2019 15:24 (UTC +04:00)

Baku, Azerbaijan, July 2

By Elnur Baghishov - Trend:

Prices for first grade tea in Iran from June 17 have risen by 32 percent, while the prices for second grade tea increased by 40 percent, Chairman of Iran Tea Organization Habib Jahansaz said, Trend reports with reference to Mizan news agency.

He said that 1 kg of first grade tea leaves is bought from the farmers for 36,000 rials ($0.85 according to the official exchange rate, $0.28 according to the exchange rate in the black market), 1 kg of second grade tea leaves is bought for 22,000 rials rials ($0.52 according to the official exchange rate, $0.17 according to the exchange rate in the black market).

He added that more than 63,000 tons of tea leaves worth 2.05 trillion rials (about $48 million) have been purchased from farmers so far.

“About 14,300 tons of tea have been processed so far from such amount of tea leaves,” he said.

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