I CALLED attention to the new outlook for tea shares
on January 15th. This week at the auctions the price of common tea has risen to a new high level of 4s. 4,id. a lb. Blenders have been caught short by the persistent demand from North America, where the high price of coffee is turning many people to tea drinking, and from the home market following on the derationing of tea and sugar. It will not be until September, when the new Indian crop reaches Calcutta, that the supply position will be cased. Meanwhile the producers are enjoying a market price which can be translated into dividends comparable with the 1950 period. I men- tioned ASSAM DOOARS and ALLYNUGP ER (Pakistan), both of which have risen but are likely to be higher by August when the dividends come.