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Worst tea crop in 19 years due to drought Vote_lcap68%Worst tea crop in 19 years due to drought Vote_rcap 68% [ 178 ]
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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Worst tea crop in 19 years due to drought

Worst tea crop in 19 years due to drought

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
This year’s drought has hit heavily production in higher elevations resulting in Sri Lanka’s worst (high grown) tea crop in 19 years.

High grown tea in July which reported a production of 3.7 million kgs is considered the lowest since 1992, Asia Siyaka Commodities Tea Brokers stated in its market comment for last month.

Asia Siyaka Chairman Anil Cooke told the Business Times that this was the worst crop experienced for the month of July with high grown production down 37 per cent compared against last year’s figure (in the same month) of 5.9 million kgs. The exceptionally dry conditions in the higher elevations since mid April this year caused mediums to also drop by 22 per cent from 3.9 million kgs in 2011 to 3 million kgs in July 2012. Low Growns however improved to 17.3 million kgs from 15.2 in 2011 up by 13 per cent, the market report states.

Tea production for January – July of 188.1 million kgs indicated a dip by approximately 7 million kgs as against 195.8 million kgs last year.The high grown for the January – July 2012 amounted to 42.9 million kgs compared to last year’s 50.2 million kgs.

The mid grown for the same period produced 30.7 million kgs this year compared to 32.1 million kgs in 2011. Low growns however experienced a marginal increase of 114.5 million kgs in 2012 as against the previous year’s 113.4 million kgs, the Asia Siyaka report stated.
http://www.sundaytimes.lk/120902/business-times/worst-tea-crop-in-19-years-due-to-drought-10280.html

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