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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Crop shortfall boosts tea sale average by Rs. 85.16 per kilo

Crop shortfall boosts tea sale average by Rs. 85.16 per kilo

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fireshelter

fireshelter
Associate Director - Equity Analytics
Associate Director - Equity Analytics
[size=33]Crop shortfall boosts tea sale average by Rs. 85.16 per kilo[/size]



Friday, 6 November 2020 00:16 -      - 256

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Crop shortfall boosts tea sale average by Rs. 85.16 per kilo Image_902a25648eIn the backdrop of a sharp decline in production, the National Sales Average of tea at the Colombo auctions in the first 10 months has increased by Rs. 85.16 to Rs. 623.35 per kilo from a year earlier.  

Forbes and Walker Tea Brokers said national average for the month of October 2020 totalled Rs. 643.70 ($ 3.51) vis-à-vis Rs. 619.33 ($ 3.38) of September 2020, showing an increase of Rs. 24.37 month on month.

However, in comparison to October 2019 average of Rs. 525.43 ($ 2.92), shows a significant increase of Rs. 118.27 ($ 0.59) YOY. When analysing the respective elevational averages for the month of October, High Growns, totalling Rs. 600.40 ($ 3.27) for October 2020, have recorded an increase of Rs. 44.42 month on month vis-à-vis Rs. 555.98 ($ 3.03) in September 2020. 

When compared to October 2019 average of Rs. 477.59 ($ 2.66), a fairly significant increase of Rs. 122.81 is recorded YOY. 

Mediums, averaging Rs. 568.14 ($ 3.10) for October 2020, have recorded an increase of Rs. 30.10 vis-à-vis Rs. 538.04 ($ 2.93) of September 2020. When compared to October 2019 average of Rs. 438.32 ($ 2.44), shows a substantial increase of Rs. 129.82 YOY. 

Low Growns, totalling Rs. 678.26 ($ 3.70) for October 2020, recorded an increase of Rs. 16.65 vis-à-vis Rs. 661.61 ($ 3.61) of September 2020. Here again, the average shows a significant increase of Rs. 116.36 YOY when compared to Rs. 561.90 ($ 3.13) of October 2019.


When analysing the January-October 2020 cumulative national average of Rs. 625.35 ($ 3.41), an increase of Rs. 85.16 ($ 0.37) is recorded vis-à-vis Rs. 540.19 ($ 3.04) of January-October 2019.

High Growns for the period January-October 2020 of Rs. 571.71 ($ 3.11) have shown an increase of Rs. 67.84 vis-à-vis Rs. 503.86 ($ 2.84) of January-October 2019. Mediums averaging Rs. 548.85 ($ 2.99) have shown an increase of Rs. 83.26 vis-à-vis Rs. 465.59 ($ 2.62) of January-October 2019. Meanwhile, Low Growns totalling Rs. 667.01 ($ 3.63) for January-October 2020 have shown the highest increase of Rs. 95.23 vis-à-vis Rs. 571.78 ($ 3.22) of January-October 2019

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