Notable
"Exporters would still sell their products to countries with less stringent regulations,
Exports were up 1.7 percent in the 10 months to 203 million kilograms.
The new formula was mutually agreed with plantations companies
To maintain shops selling tea in the Katunayake, Bandaranaike International Airport departure lounge
The Tea Auction previously set for the 1st week of December has been rescheduled to the last week of December.
Sri Lanka's premium tea brand is facing a risk due to lower quality production
Plantation workers have been protesting for higher wages since 2018
"A cabinet paper will be submitted this Monday to pay this entire amount by the government this year," he said.
Total quantity of tea exported including re-exports with imported tea amounted to 21.25 million kilos.
US dollar prices also fell in the previous week
Export earnings were reported at 127 million US dollars
Prices have gained from an average of $3.66 kilo seen at the last auction in December to $4.47 by March
Housing project financed by the Government of India to construct 10,000 houses for plantation sector workers.
Tea prices ease after 7 weeks of gains
Tea exports were down by 8.2 million kilos to 241.9 million in 2023
In US dollar terms, average tea prices fell to 3.63 a kilo, or down 9.25 percent.
| Latest | Last | |
|---|---|---|
| US Dollar | 332.3603 | 330.8514 |
| UK Pound | 440.9424 | 438.3450 |
| Euro | 368.4879 | 371.0168 |
| Yen | 2.0805 | 2.0916 |
| Aus Dollar | 227.4342 | 231.1659 |
| Latest | Last | |
|---|---|---|
| Indian Rupee | 3.5474 | 3.4202 |
| Korean Won | 0.2492 | 0.2479 |
| Oman Rial | 863.2287 | 859.3320 |
| Saudi Riyal | 88.5586 | 88.0955 |
| UAE Dirham | 90.4874 | 90.0766 |
| pts | % | |
|---|---|---|
| S&P SL20 | 6,365.57 | +0.26% |
| CSE All Share | 22,157.40 | +0.56% |
| Turnover Rs | 2975.05 million | 1193.67 million |
| Latest | Last | |
|---|---|---|
| 3-m bill | 7.61 | 7.84 |
| 6-m bill | 7.91 | 8.26 |
| 12-m bill | 8.23 | 8.3 |
| 3-yr bond | 9.24 | 9.25 |
| 5-yr bond | 9.82 | 9.56 |
| 8-yr bond | 10.50 | 10.48 |
| today | yesterday | |
|---|---|---|
| Overnight Money | 7.70 | 7.69 |
| Gilt Repo | 7.74 | 7.72 |
| I-m SLIBOR | - | - |
Gov to provide fertilizer for tea plantations through state-owned Colombo Commercial Fertilizers and Ceylon Fertilizer
This contributes significantly to the cost of production of Sri Lanka’s tea industry.
Export earnings total $1.19bn up to November
Output for the 11 months was up from last year, industry data showed.
US dollar values still up
Amaraweera promotes high-density tea cultivation system and use of new technology to increase yields.
India reemphasizes it commitment to IOTs in Sri Lanka.
Small holders were also offered an interest free loan to help apply fertilizer.
Tea export revenues fell 3.8 percent to 119.63 million US dollars in Aug 2023 from 124.4 mn US dollars a year ago
Sri Lanka exported 22.7 million kilograms of tea in July, down marginally from 44.7 million kilograms last year.
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