Sri Lanka’s national tea sales average records growth in February 2020
The national average for tea sales for the month of February 2020 has reportedly totalled Rs. 601.91 vis-à-vis Rs. 588.85 of January 2020, which is an increase of Rs. 13.14 month on month. Also, in comparison to the February 2019 average of Rs. 581.96, it is an increase of Rs. 20.03 year on year, local media reports have stated.
According to reports, when analysing the respective elevational averages for the month of February 2020 – High Growns have totalled Rs. 571.58 for February 2020 having recorded an increase month on month of Rs. 35.71 vis-à-vis Rs. 535.86 of January 2020.
However, when compared to the February 2019 average of Rs. 572.26, a marginal decrease of Rs. 00.68 has been recorded year on year.
Media reports further state that mediums averaging Rs. 538.12 for February 2020 have also recorded a significant increase of Rs. 43.05 vis-à-vis Rs. 494.62 of January 2020 and when compared to February 2019 average of Rs. 509.00, shows an increase of Rs. 29.12.
Meanwhile, Low Growns have also totalled Rs. 629.29 for February 2020 having recorded a marginal increase of Rs. 00.55 vis-à-vis Rs. 628.74 of January 2020. It has shown a fairly significant increase of Rs. 24.00 year on year when compared to Rs. 605.29 of February 2019.
When analysing the January-February 2020 cumulative average of Rs. 594.81, an increase of Rs. 09.77 is recorded vis-à-vis Rs. 585.04 of January-February 2019.
Sri Lankan authorities are focused on developing and upgrading the country’s plantations sector, especially the tea industry. Tea is one of Sri Lanka’s key export commodities since the past. Given Sri Lanka’s geographical positioning in the Indian Ocean, the ease of doing business environment in the country and the many trade agreements as well as trade concessions enjoyed by the island, Sri Lanka could look at innovative export mechanisms for tea exports. This has resulted in the creation of business/investment opportunities in Sri Lanka’s tea industry.
|Article Code :||VBS/AT/20200311/Z_1|