Sri Lankan tea prices up sharply at auction

ECONOMYNEXT – Sri Lankan tea prices moved up sharply at this week’s Colombo auctions, with high grown varieties particularly moving up appreciably and some hitting new highs as crops continued to be limited, brokers said.

Asia Siyaka Commodities said there was strong general demand for teas from estates and prices moved up sharply all round, with the better Western BOPs gaining as much as Rs50-80 a kilo.

Other types moved up Rs50 and more a kilo.

There was a record price of Rs500 a kilo for the High Grown CTC BP1 type produced by Abbotsleigh Estate, Hatton, part of Watawala Plantations, a member of the Sunshine Holdings Group, bettering the existing record of Rs470 a kilo, Asia Siyaka Commodities said.

But crops continued to remain low owing to the prolonged drought, the brokers said.
(COLOMBO, Oct 13, 2016)

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