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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Sri lanka Tea & Iranian Oil barter deal.

Sri lanka Tea & Iranian Oil barter deal.

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1Sri lanka Tea & Iranian Oil barter deal. Empty Sri lanka Tea & Iranian Oil barter deal. Mon May 18, 2015 12:07 am

Teller

Teller
Moderator
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Sri Lanka tea exporters say they hope the United States would agree to a mechanism to settle payments for oil imports from Iran with tea.

 
“We are very optimistic that the US would be intervening where Sri Lanka would be paid in US dollars for tea exports to Iran, where sanctions … prevent the Iranian tea importers to transact business in dollars,” said Rohan Fernando, the chairman of Sri Lanka’s Tea Exporters Association.   


Fernando emphasized that it is difficult at present to regularize the tea trade with Iran due to the complications that the sanctions have created for conducting banking transactions. 


Iranian banks, he said, are not allowed to deal with US dollars due to the sanctions. “They have to buy dollars from elsewhere to pay the Sri Lankan tea exporters,” Fernando has been quoted as saying by Sri Laka’s Ceylon Today newspaper. 


Sri Lanka’s media reported last week that that the US has agreed to find a solution for settling tea trade between Iran and Sri Lanka. (Iran-daily)

VALUEPICK

VALUEPICK
Expert
Expert
This is very good news for the tea sector. We are seeing bottom for tea prices globally specially in Kenya. We should see rising tea prices from the second half of this year. However, quality tea producers will fetch higher tea prices than global tea averages in any type of situation.  It is time to identify quality tea producers globally. What we are seeing now is temporary situation in the tea market. There will be great demand for tea from health concern global consumers. There will be tea time sooner than later.
 
http://www.dailymail.co.uk/health/article-3064929/Time-brew-cup-tea-perk-brain-30-minutes.html
 
Time for a brew: How a cup of tea can perk up your brain activity in just 30 minutes

http://www.telegraph.co.uk/news/health/news/11574587/Swapping-orange-squash-for-a-cup-of-tea-cuts-diabetes-risk.html
 
Swapping orange squash for a cup of tea cuts diabetes risk
 

Sugary drinks raise the risk of diabetes, but swapping just one beverege for unsweetened tea can dramatically cut chances of developing the disease.

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