Brewed Tea

Thursday, January 04, 2007

Tea for oil

KOCHI: Saddam’s execution and the civil strife in Iraq have thrown a spanner in the works of the Indian tea industry. With Iraq emerging as the largest buyer of Indian tea in 2006 as per the figures till September, the tea industry was banking on the troubled country for a revival in the fortunes of tea exports.

Exporters say that Iraq, which is buying Indian tea under the food-for-oil programme, has not floated a fresh tender since Saddam’s execution. They feel that given the present circumstances, it may take some time for Iraq to keep up last year’s momentum.

I guess this shows that Iraq, has a real economic impact in the world. I wonder how the insurgency effects it's neighboring countries?

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