Sri Lanka tea prices up in August 2017

Sept 07, 2017 (LBO) - Sri Lanka's tea prices at auctions in August averaged 606.86 rupees, up from 473.78 rupees from an year ago, Forbes and Walker Tea Brokers said. Prices of teas from all three elevations rose during August with the biggest gains in the high grown varieties. "It is relevant to note that these levels clearly indicate a gain in US dollar terms when compared to the corresponding month of 2016," the report said. January – August 2017 cumulative average totaled 611.
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22 rupees, up from 434.82 rupees of January – August 2016 showing a significant gain of 176.40 rupees. On a cumulative basis all elevations have shown a gain compared to the corresponding period of 2016, the report added. The full report follows : Monthly Averages – Month of August 2017 – Up Rs.133.08 YOY Auction average for the month of August 2017 totalled Rs.606.86 vis-à-vis Rs.473.78 of August 2016 showing a substantial gain of Rs.133.08. When analyzing the respective elevations High Grown average for August 2017 of Rs.595.04 shows a gain of Rs.157.98 vis-à-vis Rs.437.06 of August 2016 whilst Mediums averaging Rs.533.03 have shown a gain of Rs.117.62 vis-à-vis Rs.415.41 of August 2016. Low Growns too totaling Rs.627.77 have shown a gain of Rs.128.98 vis-à-vis Rs.498.79 of August 2016. It is also relevant to note that these levels clearly indicate a gain in USD terms when compared to the corresponding month of 2016. January – August 2017 cumulative average totalled Rs.611.22 vis-à-vis Rs.434.82 of January – August 2016 showing a significant gain of Rs.176.40. It is also noteworthy that even on a cumulative basis all elevations have shown a gain compared to the corresponding period of 2016. High Grown average for the period January – August 2017 of Rs.585.69 show a gain of 161.94 vis-à-vis Rs.423.75 of January – August 2016. Similarly Mediums totaling Rs.561.79 have recorded a gain of Rs.167.29 against Rs.394.50 of January – August 2016. Low Growns too totalling Rs.632.84 have recorded a gain of Rs.183.83 vis-à-vis Rs.449.01 of January – August 2016. Here again these price levels records a fairly substantial gain in USD terms compared to the corresponding period of 2016. Further these levels also show a gain when compared to 2015 levels both in SLR/USD terms.