Tea price hike approaches 100 percent in 100 days

Çaykur has increased tea prices by 15 percent. This is the fourth increase in tea prices in the last 97 days. Dry tea prices have increased by 88.2 percent since June. The General Directorate of Tea Enterprises (Çaykur) continues to increase tea prices one after another. With today's increase, the price tags of tea on the shelves will be changed for the fourth time since June. Çaykur, which increased dry tea prices by 43 percent on June 8, made its second increase by 9.5 percent on July 14. Çaykur, which made a third increase of 4.5 percent on August 15, finally made another 15 percent increase on September 12. This brings Çaykur's dry tea prices to a total of 88.2 percent in the last 97 days since June 8. On the other hand, according to TÜİK August data, the price increase rate in "tea and other brewed beverages" was 7.17 percent on a monthly basis, while the annual increase was announced as 54.61 percent. New price lists have begun to be sent to wholesale companies. As will be recalled, President Recep Tayyip Erdoğan announced the fresh tea purchase price at a rally he held in Rize on May 3 before the election. President Erdoğan stated, "As you know, last year, with the support payment, we purchased fresh tea for 7 liras per kilo. For this year, with the support payment, we are increasing the fresh tea purchase price by 64 percent to 11 liras 30 cents per kilo." Following these statements, dry tea prices increased 4 times in a row.