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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Tea sales drop in June

Tea sales drop in June

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1Tea sales drop in June Empty Tea sales drop in June Fri Jul 10, 2015 9:36 am

Melissa Pereira


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
The Sri Lankan tea sales average for the month of June 2015 at Rs.400.34 shows a negative variance of Rs.65.86 when compared to the corresponding period of 2014. All three elevations recorded a negative variance compared to last year.

The Low Grown average recorded a negative variance of Rs.74.40, whilst the High and Medium elevations recorded negative variances of Rs.45.83 and Rs.64.09 respectively.

The 1.17 mkgs of Ex Estate teas on offer met with good demand. The Western High Grown BOPF grade continued to attract attention whilst the BOP and Pekoe grades were somewhat neglected with many invoices remaining unsold. A few bright Nuwara Eliya's with improved quality advanced, whilst most others were easier and remained unsold.

The Uva/Udapussellawa teas were irregular. Select Best Low Grown CTC PF1s advanced, whilst the others were firm. A few High and Medium PF1s advanced following special inquiry, others were irregular. All brokens were easier.

The weather in the Eastern Slopes of the Planting Districts continue to be dry and hot during the day and cool during the night. Thus, building up to ideal conditions for the production of teas with seasonal UVA character.

The 3.6 mkgs of Low Growns that were on offer at this week's auction, met with better demand, particularly for the Small Leaf varieties. In the Leafy category, the BOP1/OP1s declined several rupees.

Select best OPs declined sharply, whilst the similar OPAs too met with a lower market. The bold Pekoes once again appreciated Rs.20 to Rs.30, however the Pekoe1s met with an irregular market.

In the Small leaf category, the best FBOPs on offer advanced, whilst the FBOPF1s too gained in value. The Best Tippy varieties were mainly firm, others at times shed a few rupees.

The main Syrian buyer was rather subdued, due to the non-movement of teas at the borders. The Iranian buyers were more forceful this week, whilst Russia too operated at improved levels.
Courtesy: Daily News 10 July 2015

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