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Sunday September 19th, 2021
Business

Sri Lanka tea prices dip

ECONOMYNEXT- Sri Lanka tea prices fell in the second week of July with higher availability below best teas, while low growns continued to lead prices, brokers said.

Sri Lanka sold 7.1 million kilograms of tea in the auction of July 13 and 14, made up of 1.0 million kilograms in Ex-Estate teas (mainly high grown teas sold while in the factory itself to retain quality) and 3.0 million kilograms in Low Grown (Leafy/Tippy) teas.

Sri Lanka also sold 7.1million kilograms of tea in the auction held in the previous week.

Low Growns

Last week the Low Grown tea sale average was 622.33 rupees down by 85 cents from a week earlier.
BOPF teas maintained prices from last week.

This week BOP well made sorts and cleaner below bests maintained last week prices while the balanced eased following lower quality.

Select best were firm and then eased marginally as the sale progressed. Best teas maintained prices. Cleaner Below best and Bottom end varieties went up while the balance held firm FBOP1’s in general maintained steady prices.

High Growns

Last week, the High Grown auction average was tea sale average of 543.08 rupees.

This week in BOP teas, few very Best Westerns appreciated by 20-40 rupees a kilogram while the rest including the best were irregular.

Improved Below best varieties gained 10 rupees per kilogram while the balance together with the plainer sorts declined by a similar margin. Teas at the Bottom end were not steady.

BOP Nuwara Eliya’s eased following lower quality.

Better Udapussellawa’s gained 20 rupees per kilogram whereas the balance dipped 10-20 rupees a kilogram. Better Uva’s gaind substantially and the rest eased 20-30 rupees a kilogram.

In BOPF category, a few high priced Westerns barely maintained while the balance appreciated by 20-30 rupees a kilogram, brokers said.

Better Below best sorts gained 20 rupees per kilo and the rest of the prices were irregular. Plainer varieties declined by 10-20 rupees per kilo. BOPF Nuwara Eliya’s and Udapussellawa’s followed a similar trend to their BOP counterparts. Uva’s were irregular on lower quality.

Medium Growns

Last week, the Medium Grown auction average was 515.31rupees up 2.37 rupees from a week before.
This week well-made OP/OPA’s maintained last week’s prices while the balance gained. The bottom end teas gained by 10 rupees per kilogram.

BOPF better sorts were lower, brokers said.

Select Best FBOP’s eased while others gained by 10-20 rupees a kilogram. Select best FF1’s declined, the balance gained 10-20 rupees.

CTC

High grown BP1s were irregular while PF1 teas eased 20 rupees a kilogram.

Mid grown BP1s declined 10-20 rupees a kilogram while PF1s Followed a similar trend to their BP1 teas.
Low grown BPIs were firm and gained progressively, better PF1 teas gained 10 rupees while the rest were irregular.

Crop and weather

The department of meteorology forecasts showers in the Western region and strong winds in Nuwara Eliya area in the coming week

Heavy showers are to be expected in the Sabaragamuwa region for the coming week.

The Western and Nuwara Eliya regions reported bright mornings and evening showers.

The Western and Nuwara Eliya planting districts reported dull and showery conditions throughout the week

The Uva/Udapussellawa’s experienced sunny mornings with scattered evening showers. The Ruhuna region reported bright mornings with evening showers while the Sabaragamuwa district experienced dull and showery conditions.

All planting districts maintained the crop intakes as last week except for the Udapussellawa’s which reported a decline. (Colombo/July18/2021)

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