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I don't know about wine, but TEA may be the only
commodity where the price is set by the buyer and not by the seller. This is
done through an elaborate system of Tea Testing and Auctioning. That is why Tea
cannot be sold directly. All the world Tea producers follow this system evolved
by the British. Even if one tries to sell directly, apparently trying to
cut the middle man and make extra profit, they will have to under sell as these
TEA will not be Tested and Graded. Incidentally I have heard that the Guwahati
Tea Auction is loosing some of its creditability due to undue influence made on
the Tea Tester which is apparently not there in Kolkata Tea
Auctioning.
At one time about 50% of the Tea Gardens (total
about 800 in Assam) were owned by Assamese. When the profits were great
they all made lot of money but none could retain the profits and invest in
Assam's entrepreneurship. The main problem with Assamese businessmen was that
their standards of living go up to consume the extra profits. (Visit Europe by
the entire family with servants and all etc). So when the market fell, most
Assamese Tea Garden owners had to sell to Marwaries to survive. One of
the trick of the successes of the Marwaries is that they never raise their
standard of living. They take their business very religiously and reinvest
or save the extra profits.
I may be wrong in some points but this is what I
have been told and learned from common sense. Any comments from any tea
experts?
RB
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