Sri Lanka tea prices up in January 2018

Feb 08, 2018 (LBO) - Sri Lanka’s tea prices at auctions in January averaged 640.05 rupees and shown a growth of 43.79 rupees from an year ago, Forbes and Walker Tea Brokers said. Prices of teas from all three elevations rose during January with the biggest gains in the high grown varieties. “Total Auction average for January 2018 of 640.05 rupees have shown a growth not only compared to the corresponding month of 2017, but also compared to that of December 2017,” the report said. The full report follows : Monthly Auction Averages - January 2018 Total Auction average for January 2018 of Rs.640.05 have shown a growth not only compared to the corresponding month of 2017, but also compared to that of December 2017. With January- December 2017 averages closing on an all time high and the fact that January 2018 averages have shown a gain even over December 2017 is fairly significant. Total Auction average for the month of January 2018 of Rs.640.05 have shown a growth of Rs.43.79 vis-à-vis Rs.596.26 of January 2017. Meanwhile it also shows a growth of Rs.18.94 vis-à-vis Rs.621.11 of December 2017. When analyzing the respective elevational averages, High Growns totalling Rs.636.82 have shown a gain of Rs.17.27 vis-à-vis Rs.619.55 of January 2017. However it shows a slight decrease when compared to December 2017 average of Rs.642.33. Medium Growns totalling Rs.573.06 for January 2018 have shown a gain of Rs.23.92 vis-à-vis Rs.549.14 of January 2017 whilst it also shows a gain of Rs.14.89 when compared to December 2017 average of Rs.558.17. Meanwhile Low Growns totalling Rs.656.61 have shown a gain of Rs.55.49 vis-à-vis Rs.601.12 of January 2017. In the case of Low Growns a growth of Rs.26.03 is recorded vis-à-vis Rs.630.58of December 2017. It is also relevant to note that these prices show a gain in USD terms compared to the corresponding month of 2017 barring the High Grown average for 2018 where a marginal decrease is recorded whilst a fairly significant gain both in SLR/USD terms are recorded when compared to 2016 price levels.