Sri Lanka tea prices down in first nine months of 2019

tea

Oct 03, 2019 (LBO) – All elevations show a negative variance January-September 2019 compared with January-September 2018 and high growns show the largest deficit of Rs. 63.37 YOY, a report shows.

National average for the month of September 2019 totalled Rs. 511.31 compared with Rs. 506.86 of August 2019 showing a marginal increase of Rs. 04.42 month on month, Forbes and Walker Tea Brokers said in their monthly report.

“In comparison to September 2018 average of Rs. 537.77, however, shows a decrease of Rs. 26.46.”

When analysing the respective elevational averages for the month of September 2019 – high growns totalling Rs. 458.55 for September 2019 have recorded a marginal increase of Rs. 03.98 vis-à-vis Rs. 454.47 of August 2019.

When compared to September 2018, a significant decrease of Rs. 114.06 is recorded YOY, the report says.

Mediums averaging Rs. 436.55 for September 2019 have recorded an increase of Rs. 04.98 vis-à-vis Rs. 431.57 of August 2019.

However, against September 2018 average of Rs. 478.68, shows a sharp decrease of Rs. 42.13.

Meanwhile, Low Growns totalling Rs. 543.93 for September 2019 have recorded an marginal increase of Rs. 0.27 vis-à-vis Rs. 543.66 of August 2019.

It also shows an increase of Rs. 01.27 YOY when compared to Rs. 542.66 of September 2018.

When analysing the January-September 2019 cumulative average of Rs. 541.88, a decrease of Rs. 40.07 is recorded vis-à-vis Rs. 581.95 of January-September 2018.

High Growns for the period January-September 2019 of Rs. 506.82 have shown a decrease of Rs. 63.37 vis-à-vis Rs. 570.19 of January-September 2018.

Mediums too averaging Rs. 468.66 have shown a decrease of Rs. 42.13 vis-à-vis Rs. 521.62 of January-September 2018.

Meanwhile, low growns totalling Rs. 572.97 for January-September 2019 have shown a decline of Rs. 26.46 vis-à-vis Rs. 601.02 of January-September 2018.

Both, the month and cumulative averages, show a greater decrease in USD terms compared to the corresponding period of 2018 due to the devaluation of Sri Lankan Rupee YOY.