Tea Biz News and Insight - September 16, 2022

HEAR THE HEADLINES – Stubborn Inflation Nudges US Economy Toward Cliff | Tea brands brace for a downturn as core inflation remains high, undermining consumer confidence | Starbucks Announces a Retail Renaissance | Orthodox Tea Exports Fall Short of Demand | NEWSMAKER – Dr. Roshan Rajadurai, the Managing Director from Hayleys’ plantations, managing agents for Kelani Valley, Tallawakelle, and Horona plantations | FEATURE INTRO – This week, Tea Biz travels to Sri Lanka to assess the condition of a resilient tea industry following an unsettling spring marred by high unemployment in the aftermath of the COVID pandemic. For several months tens of thousands protested the inflation-driven cost of food and shortages of basics, including fuel, cooking gas, and electrical power. The upheaval led to the resignations of both the prime minister in May and the nation’s president, who fled the country in July. Organizational Discipline Helps Tea Industry Cope with Continual Crisis – Sri Lanka has been facing its worst economic crisis since gaining independence. Following the pandemic, many industries on the island have ceased to exist due to political and financial difficulties. However, the island’s tea industry continues to battle on. Tea Biz correspondent and PMD Tea MD Dananjaya Silva sat down with Dr. Roshan Rajadurai, the Managing Director from Hayleys’ plantations, managing agents for Kelani Valley, Tallawakelle, and Horona plantations PLC, to discuss how his plantations have adapted and continue to produce tea, given the economic hardships.Advertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy