Category: Agriculture

Buyers set aside developments in the Middle East to step up buying at Tuesdays low grown tea auctions, pushing up prices in the process. Brokers said that buyers were paying at least Rs 5.00 over last weeks prices, a welcome development for low grown plantations and leaf suppliers ahead of the Sinhala Tamil New Year. […]

This weeks low grown auction average could slip below Rs.130, down from Rs. 147.46 for February. Brokers say that buyers stepped up orders marginally at the weekly auctions, but preferred to stay at previously low prices.Producers with little choice and desperate to liquidate their stocks to meet payments to leaf suppliers ahead of the Sinhala […]

The tea industry continued its ill fate with indications that around 25% to 30% of all teas brought to the weekly auctions in Colombo would remain unsold. Brokers say low prices and a lack of demand could lead to a liquidity shortfall ahead of the Sinhala Tamil New Year in April. The low grown sector […]

A strategy to expand its investment options will see Amana Investments venturing into the tea brokering business shortly.Amana will hold a 55 per cent stake in the Rs. 15 million venture, with six other investors taking up the balance shareholding.The new firm endash Tea Commodity Brokers endash opens shop in early July and will tap […]

Key stakeholders in the tea industry got together last week to form a pan industry apex body. The tea association of Sri Lanka plans to provide a singe point of view from the industry to policy makers in the future.” Before this association came whenever a problem arose we had to speak to several associations […]

New apex body for the tea industry, the Tea Association of Sri Lanka (TASL) officially got off ground Tuesday, mapping out plans to set the industry standard for tea. The TASL will steer through all strategy and policy development for the sector acting also as a catalyst for product development and research Through promotion and […]

A collective decision by private tea factory owners to cut Rs.2 on the price for green leaf paid to smallholders, has prompted a threat of legal action.” The move by the factory owners is completely irregular and unlawful.It is illegal to pay less than the price determined by the reasonable price formula and if there […]

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 […]

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 […]

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 […]

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 […]