Sri Lanka’s tea auction records a marginal increase in prices month on month

Sri Lanka’s tea auction records a marginal increase in prices month on month

Sri Lanka’s Forbes and Walker Tea Brokers has reportedly stated that auction average for the month of September 2018 totalled Rs.537.77 compared to Rs.534.02 of August 2018 showing a marginal increase of Rs.03.75 month on month.
“However in comparison to September 2017 average of Rs.635.40 it shows a substantial decrease of Rs.97.63,” Forbes and Walker Tea Brokers has been quoted as saying in their latest report.
A local media report has stated that analyzing the respective elevation averages for the month of September 2018; High Growns totalling Rs.572.61 has recorded a decline of Rs.08.83 vis-à-vis 571.44 of August 2018. When compared to September 2017 a decrease of Rs.53.79 is evident YOY.
However, mediums averaging Rs.478.68 has recorded a marginal increase of Rs.01.84 vis-à-vis Rs.476.84 of August 2018. When compared to September 2017 average of 565.49 however shows a significant decrease of Rs.86.81, reports state.
Meanwhile Low Growns totalling Rs.542.66 have recorded an increase of Rs.06.36 vis-à-vis Rs.536.30 of August 2018. Similarly, when compared to Rs.653.19 of September 2017, shows a significant decrease of Rs.97.63 YOY.

OSL take:

The Sri Lankan government has been engaged in exploring methods of developing the country’s tea industry and regaining the prominence enjoyed by “Ceylon Tea” in the global market. Many incentives have been introduced to tea smallholders and the tea industry is on a slow but steady growth path. Foreign businesses could look at investing in Sri Lanka’s tea industry and enjoy good returns.

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Article Code : VBS/AT/20181009/Z_4

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