Sri Lanka tea prices show significant gains in June

tea

July 06, 2017 (LBO) – Sri Lanka tea prices at the June 2017 auctions showed gains in high, medium and low growns, a new report said.

“Auction average for the month of June 2017 totalled Rs597.61 vis-à-vis Rs.433.23 of June 2016 showing a  significant gain of Rs.164.38,” Forbes & Walker Tea brokers said in their June update.

“When analyzing the respective elevational  averages for June 2017, High Growns of Rs.531.85 has shown a gain  of Rs.137.47 vis-à-vis 394.38 of January –June 2016 while mediums too averaging Rs.542.09 show a gain of Rs.146.99 vis-à-vis Rs.395.10 of June 2016.”

The averages have also shown a growth in USD terms compared to the corresponding period of 2016.

The full statement follows:

Monthly Auction Averages – June 2017

Auction Average for the month of  June 2017, totalled Rs.597.61 vis-à-vis Rs.433.23  of  June  2016 showing a  significant  gain of Rs.164.38 .When analyzing the respective elevational  averages   for June  2017,High Growns  of Rs.531.85 has shown a gain  of Rs.137.47 vis-à-vis 394.38 of January –June 2016.

Mediums too  averaging Rs.542.09 show a gain of Rs.146.99 vis-à-vis Rs.395.10 of June 2016.

Meanwhile Low Growns totalling Rs.643.62 have shown a  substantial  gain of  Rs.183.85 vis-à-vis Rs.459.77 of June 2016.It is also relevant to note  that these  averages  show a growth  in USD  terms compared  to the corresponding  period of  2016.

Another noteworthy feature is that  these levels also show a  gain in SLR/USD terms as against June 2015 prices.

January-June 2017  cumulative  average  for  2017 totalled  Rs.615.32 vis-a-vis Rs.423.70  of January-June  2016 showing a  gain of Rs.191.62.

Here again  all elevations  have shown a  growth in 2017 compared  to the corresponding  period  of  2016. High Growns totalling  Rs.588.29 has  shown a  gain of Rs.172.38 vis-à-vis Rs.415.91  of January-June 2016.

Mediums too  totalling Rs.572.73 show a  gain of Rs.181.67 vis-à-vis Rs.391.06 of  January-June 2016  whilst Low Growns  totalling Rs.636.48 show a  gain of  Rs.202.05 vis-à-vis Rs.434.43 of January-June 2017.

On a cumulative basis   too January-June 2017 prices are   higher in USD terms  compared  to January-June  2016 price levels.

Similarly these levels  show a  growth  in SRL/USD terms when compared to  the  2015  levels too.