Tea makers want moratorium on leases By Sunimalee Dias View(s): View(s):Hard on the heels of the hospitality industry, now tea estate owners want the government to grant a moratorium on their lease rentals to ease their burden as tea prices continue to decline since the first half of this year. He pointed out that if factory owners could be given a moratorium on their leases then the government could consider giving them a moratorium on their lease rentals just until they overcome the current crisis. A decline in the tea prices globally has created a big impact on the local tea manufacturers who are compelled to sell the beverage at a price that does not cover their costs. Mr. Rajadurai explained that prices have been down and the crop has dropped as the cropping month had come in late. In this backdrop they were unable to make ends meet and almost all estates were carrying out a revenue share model with their workers.

Source: Sunday Times July 06, 2019 20:26 UTC