Record Raise from Çaykur

General Directorate of Tea Enterprises, Çaykur, increased the price of tea by 43.71 percent.

Record Raise. Çaykur raised the tea price following the announcement of the support premium of 6.70 lira per kilo and 30 cents per kilogram, with a 76 percent increase in the purchase price of undried fresh tea in 2022 productions. After these statements, Çaykur raised the tea price by an average of 43.71 percent. After the hike, the new price lists were sent to the wholesale companies. While the weight of tea in the inflation basket of the Turkish Statistical Institute (TUIK) is 0.5464 percent, the effect of the 43.7 percent hike on headline inflation is calculated as 0.24 points. It was stated that this effect will be felt in the inflation figures of May and June, since the decision of the hike was made in the middle of the month. President Recep Tayyip Erdoğan announced the base purchase price of tea for 2022 on May 14. The purchase price of fresh tea, which was 3.87 TL last year, increased by 73 percent to 6 liras, 70 cents, and the support premium, which was 13 cents per kilogram, was increased to 30 cents with an increase of 130.8 percent, and the price was moved to the level of 7 TRY. After the hike for wet tea, eyes were turned to dry tea. Industry stakeholders estimate that Çaykur, which has been constantly announcing losses in recent years, may increase tea by 10-15 percent in June.