Sri Lanka’s tea prices show an increase in November 2017
Sri Lanka tea prices have shown gains in high, medium and low growns at the November 2017 auctions, according to report.
“When analyzing the respective elevational averages, high grown average of 644.06 rupees for November 2017 show a gain of 87.82 rupees vis-à-vis 556.24 rupees of November 2016,” Forbes & Walker Tea Brokers has reportedly stated in their latest report.
“It is also relevant that these averages show a gain in USD terms when compared to the corresponding month of 2016.”
January – November cumulative average for 2017 totalled 617.96 rupees vis-à-vis 461.99 rupees of January – November 2016 showing a substantial gain of 155.97 rupees.
The full report is as follows:
Auction average for the month of November 2017 totalled Rs.626.85 vis-à-vis Rs.581.33 of November 2016 showing a gain of Rs.45.52. When analyzing the respective elevational averages, High Grown average of Rs.644.06 for November 2017 show a gain of Rs.87.82 vis-à-vis Rs.556.24 of November 2016.
Similarly, Medium Growns averaging Rs.565.86 have shown a gain of Rs.59.64 vis-à-vis Rs.506.22 of November 2016 whilst Low Growns totalling Rs.636.58 have shown a growth of Rs.33.29 vis-à-vis Rs.603.29 of November 2016. It is also relevant that these averages show a gain in USD terms when compared to the corresponding month of 2016.
January – November cumulative average for 2017 totalled Rs.617.96 vis-à-vis Rs.461.99 of January – November 2016 showing a substantial gain of Rs.155.97.
Here again High Grown average totalling Rs.598.60 have shown a gain of Rs.155.89 vis-à-vis Rs.442.71 of January – November 2016 whilst Medium Growns averaging Rs.563.87 for January – November 2017 have shown a gain of Rs.149.74 vis-à-vis Rs.414.13 of January – November 2016.
Low Growns totalling Rs.638.37 too, show a substantial gain of Rs.158.24 vis-à-vis Rs.480.13 of January – November 2016. On a cumulative basis too these figures show a substantial gain in USD terms compared to the corresponding period of 2016. Further, these levels are significantly higher compared to 2015 levels both in SLR/USD terms.
The increase in tea prices in the Sri Lankan auction indicates an increasing demand for the commodity. The tea industry would therefore be a sector for discerning investors to consider investing their monies in.
|Article Code :||VBS/AT/13122017/Z_6|