Monday, November 15, 2010

Paging Paul Krugman 4: Now, Tea Prices are Soaring

Unilever NV, the world’s second-biggest consumer products maker, is raising prices for tea, Jean-Marc Huet, the chief financial officer, said in a conference call Nov. 4.

Tea averaged $2.50 a kilogram (2.2 pounds) this year at auctions in Mombasa, Kenya, the second- highest level since at least 1997, according to data compiled by the United Nations’ Food and Agriculture Organization.

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