Notable
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
Less than qualified men are in management positions, because they know how to order people around
May hurt the ability to service bank loans
The tea prices are down for two weeks in a row.
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
| 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 | - | - |
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.
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
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