Two estates in Siyaka catalogues reach record prices at recent Tea Auction.
The Morning: At the Colombo Tea Auction held on 30/31 August 2022, an invoice of Inverness Pekoe in the Western High-Grown category sold at a price of Rs. 2,150 per kg, equal to the existing record for this grade.
Inverness is a selling mark of Nuwara Eliya Estate, of Kelani Valley Plantations PLC a member of Hayleys Group of Companies. The estate is under the supervision of Deputy General Manager Udeni Wanigatunge. This tea was purchased by Jafferjee brothers and marketed by Asia Siyaka Commodities PLC.
In the Low-Grown category, an Invoice of Golden Garden BOPFSP sold at a price of Rs. 2,850 equal to its own record for BOPFSP-grade tea recorded at the sale of 24 September. The teas were purchased by Inter Tea (Pvt.) Ltd., and marketed by Asia Siyaka Commodities PLC.
Golden Garden teas are manufactured at Evergreen Tea Factory located in Thalgaswala of the Galle District. This factory comes under Evergreen Group, whose board is chaired by Aruna de Silva. This factory is managed by Group Director Dr. Indika Nallaperuma (Director), Senal de Silva (Director), General Manager Lasantha Alwis, Production Manager P.A Saman Buddika, and Factory Manager W.P Susantha.
OSL take:
Sri Lanka is focused on regaining the top slot once enjoyed by Ceylon Tea in the international market. The high quality tea produced in the country and the high prices fetched by these products at the Tea Auction is indicative of the steady growth of Sri Lanka’s tea industry. The government of Sri Lanka has also introduced many incentives to further promote the country’s tea industry. Also, the many trade agreements as well as trade concessions enjoyed by the country have helped boost Sri Lanka’s tea industry. Given the growing opportunities in the local tea industry, foreign businesses/investors could explore the increasing opportunities in the industry while also looking at the possibility of forming partnerships or joint ventures with local businesses engaged in the tea industry.
| Article Code : | VBS/AT/27092022/X_6 |