Brexit drives up cost of tea by up to 50 per cent
Price of an 80 kilogram bag of tea increases from £100 to £150
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Your support makes all the difference.The cost of tea is set to increase due to the consequences of Brexit, according to the UK boss of Typhoo Tea.
Somnath Saha, the company’s chief executive, said the cost of importing tea had increased 50 per cent due to the fall in the value of sterling.
The price of an 80 kilogram bag of tea has gone up from £100 to £150 and is costing the company £250,000 a month.
"This is having a very negative impact on our business and We are really suffering. It’s come to a point where it’s not sustainable. We cannot accept this loss any more," Mr Saha told the Daily Mail.
Typhoon Tea produces 125 million tea bags a week at its factory in Wigan and employs 300 people in the UK. Mr Saha claimed if the pound continues to decline at the rate it has done since the referendum, the business would lose all of its profit.
“It has been so difficult after June. We can’t plan anything. Every day, you don’t know what is going to happen. There is so much volatility,” he said.
Tea is not the only product facing an increase in price due to Brexit. Apple has already upped the prices of its products in the UK and Morrisons has hiked the price of Marmite.
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