Category: Agriculture
Creeping Up
Prices for crepe rubber have reached record levels as oil prices spiral, touching Rs. 129 a kilo at this weeks auction, a high since 1995. This is up from crepe prices of Rs.102 in Dec 2002. Crepe rubber is used as a substitute for synthetic rubber, which uses petroleum products. An agreement to cut output […]
Counting Leaves
Tea exporters are pushing for a three-month moratorium from commercial banks as the government maps out a contingency plan should war break out over Iraq.All exporters currently given a 180-day packing credit to settle outstanding loans, which they want extended by a further three months, Exporters Association officials say. ” We have already put forward […]
Crossfire
Rising tension in the Middle East is buing holes in the Sri Lankan tea industry as prices plummet and stocks accumulate at auctions. Low grown teas are seeing the brunt of the Middle Easte crisis, with prices on average dropping by Rs. 20.00 in two weeks. In addition, a backlog over 15 million kilos of […]
Stretch Factor
Sri Lankan investors stretched their resources to dip into plantation stocks with exposure to rubber, demand created by a giant leap in rubber prices from an 2002 average of below Rs. 55.00 to Rs. 110.00 for March forward prices. Why the high price? Chinas growing appetite for consumer goods with its expanding middle class, an […]
Looking Ahead
2003 will be an eventful year says commodity brokers Asia Siyaka.A round up of the year highlights key event in the tea industry. National Policy The Sri Lanka Tea industry could expect a very eventful year in 2003 with many significant domestic and intentional issues likely to have an impact on the market. The government […]
Bumper crop
Tea production is expected to touch the 308-mn kilo mark for 2002 brokers predict, given improved harvests in November the same year.For the eleven months ending November, crop intakes reached 281 mn kilos, up five percent on the 268 mn kilos the year before.If all goes as expected, crop intakes will surpass record levels of […]
Beyond in 2003
Sri Lankan Tea Exports is headed for a record high, with industry officials hoping for the total export quantity to exceed the landmark 300 million kilos. Cumulative exports to end October reached 246 million kilos, 3 million kilos above last years total for the same period. Officials feel there is much more to celebrate next […]
Tea Captain
Director of Gordon Frazer – Niraj de Mel, is poised to take over as CEO of the umbrella body the Tea Association of Sri Lanka.Appointed last week, he is expected to take over duties from February next year, leading the association for a two-year term, he confirmed. The Tea Association was formed as an umbrella […]
Tea (Pvt) Ltd
Moves to set up an Export Marketing Council for the tea industry is underway that will take over Tea Board promotions and include officials from the Export Development Board, the Board of Investment and the new Tourism Bureau.The proposed council will take over all promotional work currently carried out by the Tea Board, working hand […]
Falling Numbers
Sri Lankas tea crop slipped to 20.7 mn kilos in August, its lowest since 1999 when a figure of 19.4 mn kilos was recorded. Asia Siyaka Commodity brokers did not give a reason for production drop, but said the tea crop has fallen steeply by 38 percent todate, since peaking at 33 mn kilos in […]
Oxidising Tea
At the laboratories of the tea research centre, scientists are brewing a new cup of tea.They are testing the properties lquote Ceylon Tea grown in various regions of the island. Tea Board officials are hoping they will produce the marketing and branding break through the industry has been waiting for. ” If we could prove […]
Stretching Rubber
Out-grower schemes for rubber in non-traditional planting areas are being developed as one way to bridge an expected shortfall in top quality grades for the local rubber products industry. Spearheaded by the Southe Development Ministry, a smallholder project is being developed in Moneragala to produce rubber that will then be processed into high quality grades […]