Sri Lanka tea prices up sharply at first auction

ECONOMYNEXT – Prices of Sri Lankan teas grown on the western slopes of the central hills rose sharply at the year’s first auction, driven by improved quality, brokers said.

“There was good demand,” Forbes & Walker Tea Brokers said. “There was improved widespread activity from most markets, which is indeed encouraging.”
Brokers said prices for low-grown teas tended to fluctuate, but high and mid-grown small leaf teas made an impressive start, recording significant price gains.

They said the overall quality of teas from Western planting districts was better, with estates offering a wider selection of brighter teas.

Most Best Western BOP type teas gained Rs20 a kilo, while corresponding BOPF types, which at the commencement of the sale was up to Rs20 a kilo, moved up as the sale progressed, recording gains of Rs40-60 a kilo and more.

The plainer sorts were up by Rs30 a kilo, Forbes & Walker Tea Brokers said.
(COLOMBO, Jan 05, 2016)

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