Jun 06, 2019 (LBO) – Sri Lanka’s tea prices or national average for May 2019 were down to 51.69 rupees vis-à-vis May 2018 with medium and low growns showing the biggest deficit, a report shows.
“In first 5 months of year, prices show a decrease of 41.64 compared to 2018,” Forbes and Walker Tea Brokers said in their monthly report.
The national average for the month of May 2019 totalled 539.55 rupees vis-à-vis 578.23 rupees of April 2019 showing a decrease of 38.68 rupees month on month. In comparison to May 2018 average of 591.24 rupees, shows a decrease of 51.69 rupees.
When analysing the respective elevational averages for the month of May 2019; High growns totalling Rs. 504.75 for May 2019 have recorded a decrease of Rs. 36.22 vis-à-vis Rs. 540.97 of April 2019.
When compared to May 2018, a decrease of Rs. 41.46 is recorded YOY. Mediums averaging Rs. 473.13 for May 2019 have recorded a decrease of Rs. 35.01 vis-à-vis Rs. 508.14 of April 2019.
However, against May 2018 which recorded Rs. 531.75 shows a sharp decrease of Rs. 58.62.
Meanwhile, low growns totalling Rs. 569.70 for May 2019 have recorded a decrease of Rs. 38.37 vis-à-vis Rs. 608.07 of April 2019. When compared to Rs. 625.31 of May 2018, shows a decrease of Rs. 55.61 YOY.
When analysing the January-May 2019 cumulative average of Rs. 574.90, a decrease of Rs. 41.64 is recorded vis-à-vis Rs. 616.54 of January-May 2018.
High Growns for the period January-May 2019 of Rs. 552.51 have shown a decrease of Rs. 42.13 vis-à-vis Rs. 594.64 of January-May 2018. Mediums too averaging Rs. 503.08 have shown a decrease of Rs. 55.04 vis-à-vis Rs. 558.12 of January-May 2018.
Meanwhile, Low Growns totalling Rs. 601.20 for January-May 2019 have shown a decline of Rs. 36.81 vis-à-vis Rs. 638.01 of January-May 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.