Sri Lanka tea prices up 30-pct in June

ECONOMYNEXT – Sri Lankan tea prices continued to gain in June 2017, with the national  average  auction price up 30% to Rs. 591.54  a kilo from a year ago and seasonal teas expected to fetch better prices at future sales, brokers said.

The highest gains have been from the high grown teas, up 31% followed by low growns, up 30% and teas grown at the medium elevation up 28%, brokers John Keells PLC said.

The  June auction average  was “significantly   higher “ than the  Rs.454.24 a kilo achieved  during  the  same  month  in  2016, they said.

The national average in the January-July period was up “substantial” 43% to Rs.611.94 compared to Rs.427.92 a kilo achieved during the same period last year, the brokers said in a report.

“The long awaited initial invoices of the well made seasonal teas from the Uva Region are coming up for sale commencing from the next week’s auction,” John Keells said. “It is envisaged that attractive prices will be realized for these teas.”

Forbes & Walker Tea Brokers said the auction average prices were higher than last year in US dollar terms as well and also substantially above those of 2015.
(COLOMBO, August 03, 2017)

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