GETTY - TWITTER Typhoo tea bosses say the price will go up

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Typhoo Tea produces millions of bags a week at its factory in Moreton, Wirral, with around 95 per cent of its products then being sold in the UK. But the company now claims it has been battling the fall in Stirling since the June 23 referendum, and CEO Somnath Saha can no longer stay silent.

He claims that because of the falling price of the pound following the vote to leave the European Union, costs have soared. The price of importing an 80kg bag of tea has increased by a dramatic 50 per cent - from £100 to £150 - since the start of the year.

PA Typhoo Tea produces millions of bags a week at its factory in Moreton, Wirral

TYPHOO TEA Nigella Lawson is now an ambassador for the Typhoo Tea brand

Mr Saha said: “This is an absolute disaster for a company the size of ours. "The very sharp fall in the pound means the impact is at least a quarter of a million pounds a month for us. "This is having a very negative impact on our business and we are really suffering. "It's now come to a point where it's not sustainable for us.”

TYPHOO Somnath Saha claims cost of importing an 80kg bag of tea has increased by a dramatic 50 per cent

It’s one of the favourite drinks of this country. It’s unfortunate. It’s nobody’s fault – it’s due to the economic conditions Typhoo Tea CEO Somnath Saha

The tea boss claims if the fall of the pound continued, his company would lose almost all of its £3million annual profit, and says there has been “too much volatility” since the Brexit vote. A box of 240 Typhoo teabags currently costs around £3. Mr Saha added: “We don’t have big enough margins between us and retailers to absorb all these costs. “We’re looking at how to mitigate some of them from our labour, overheads and marketing costs, which will affect the growth of the business and employment in the long run. “But neither us nor the retailers can absorb any more cost increases.”

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Earlier this year, TV chef Nigella Lawson became the face of Typhoo, appearing in an advert which showed her on the sofa with a cuppa and a slice of cake. Mr Saha said: “It’s one of the favourite drinks of this country. It’s unfortunate. It’s nobody’s fault – it’s due to the economic conditions.” The fallout from Brexit has also seen prices go up on supermarket favourites including Marmite and Pot Noodle.

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