Sri Lanka tea up for third consecutive month in Nov

Dec 07, 2016 (LBO) – Sri Lanka’s tea auction average for the month of November showed gains with prices up 168.82 rupees to 581.33 rupees against 412.51 rupees in the period last year.

“It is also noteworthy that this is the highest ever average for a calendar month improving on the previous best achieved during the previous month.(October 2016),” Forbes & Walker Tea Brokers said in a report said.

“January -November 2016 cumulative Auction average totaled Rs.461.99 vis-à-vis Rs.401.05 of January – November 2015 showing a gain of, Rs.60.94.”

November marked the third consecutive month that tea prices have reached record levels amidst reduced supply.

“All three elevations too have recorded the highest average for a calendar month,” it added.

The full statement follows; 

Auction average for the month of November totalled Rs.581.33 vis-à-vis Rs.412.51 of November 2015 showing a substantial gain of Rs.168.82.It is also noteworthy that this is the highest ever average for a calendar month improving on the previous best achieved during the previous month.(October 2016). It is also relevant that this is the 3rd consecutive month that this feat has being achieved.

Another commendable feature is that all three elevations too have recorded the highest average for a calendar month. High Growns averaging Rs.556.24 for November 2016 show a gain of Rs.154.52 vis-à-vis Rs.401.72 of November 2015.Mediums too averaging Rs. 506.22 show a gain of Rs.140.92 vis-à-vis Rs.365.30 of November 2015.Similaraly Low Growns totalling Rs.603.29 have shown a significant gain of Rs.176.46 vis-à-vis Rs.426.83 of November 2015.These price levels are  higher even in USD terms when compared to the corresponding  month of 2015.

January -November 2016 cumulative Auction average totalled Rs.461.99 vis-à-vis Rs.401.05 of January – November 2015 showing a gain of, Rs.60.94 .High Growns totaling Rs.442.71 have recorded a gain of Rs.55.82 vis-à-vis Rs.386.89 of January – November 2015 Medium Growns totaling Rs.414.13 show a gain of Rs.52.27 vis-à-vis Rs.361.86 of January-November 2015 whilst Low Growns Totaling Rs.480.13 have shown a gain of Rs.64.82 vis-à-vis Rs.415.31 January-November 2015.Here again  these averages show a growth in USD terms although not as significant as the gain achieved from the month.