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Sunday January 29th, 2023
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This week 5.1 million kilograms were offered at the auction made up of 2.2 million kilograms of Low Growns.
However, the top agriculture export commodity fetched the highest rupee revenue in history
All districts record decline in crop intake
“The 1st sale of the year got off to a good start with prices for almost all types of teas appreciating in value."
Ceylon tea prices gained steeply in 2022, after the rupee fell.
Policy mismanagement and bad weather continue to eat into dollar crop
Indians came as cheap labours under British Colonial rulers
This week 5.1 million kilograms were offered at the auction made up of 0.7 million kilograms of High Growns.
Low grown and Medium grown teas gain
October production was mainly hit by bad weather
Last week the average low grown price was 1,401.30 rupees.
Up to October 211 million were exported
Tea is Sri Lanka's main export crop and earns over $1.5 billion export revenue annually.
Rupee average rose to as much as 1676.93 rupees a kilo in the first week of October.
The cost of production of tea growers has steeply risen by 30-35 percent so far this year
In the nine months of 2022 Sri Lanka exports fell 9 percent to 192.60 million kilograms.
| Latest | Last | |
|---|---|---|
| US Dollar | 371.7127 | 371.6601 |
| UK Pound | 453.5962 | 453.9794 |
| Euro | 396.3156 | 396.4763 |
| Aus Dollar | 250.1862 | 251.1981 |
| Yen | 2.8251 | 2.7549 |
| Latest | Last | |
|---|---|---|
| Indian Rupee | 4.3961 | 4.3963 |
| Korea Won | 0.2820 | 0.2791 |
| Oman Rial | 943.2237 | 943.2268 |
| Saudi Riyal | 96.7270 | 96.7115 |
| UAE Dirham | 98.8729 | 98.8786 |
| pts | % | |
|---|---|---|
| S&P SL20 | 2,653.84 | -1.51% |
| CSE All Share | 8,420.26 | -1.04% |
| Turnover Rs million | 4,621,153,484 | 2,824,714,520 |
| Latest | Last | |
|---|---|---|
| 3-m bill | 31.03 | 31.03 |
| 6-m bill | 29.57 | 29.60 |
| 12-m bill | 28.41 | 28.41 |
| 5-yr bond | 27.49 | 27.57 |
| 8-yr bond | 27.44 | 27.23 |
| today | yesterday | |
|---|---|---|
| Overnight Money | 15.50 | 15.50 |
| Gilt Repo | 15.50 | 15.50 |
| I-m SLIBOR | - | - |
Data shows tea prices across all elevations have fallen between 100 to 200 rupees
In dollar terms, the average sale price for Sri Lankan tea had been 4.41 dollars per kilogram
The average tea price in August hit 1,951.82 rupees per kilogram
In the last week of August, Low Grown tea averaged 4.39 dollars a kilogram up from 2.95 a year earlier
This week 4.7 million kilograms were offered for sale.
US dollar earnings were up 2% to 117.5 million dollars in July from a year ago
July prices surpassed the previous record in April 2022 of 1,333.61 (USD 4.14).
Low-grown tea slipped over 100 rupees per kilogram
On July 20 auction low grown averaged at 4.54 dollars per kilogram
Six months to June output dipped 17 percent.
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