Sri Lanka has seen its tea prices marginally dropping during the month of April by Rs. 0.59 per Kilogram compared to the corresponding month of 2010, thus marking the first such monthly decline for the year 2011.
However, the to-date average to end April remains at a healthy Rs.389.22 per Kg. This is Rs.8.03 per Kg above last year’s price.
The negative variance for the month stems from the low grown sector which has recorded a drop of Rs.1.92 per Kg whereas the high & mid country teas have recorded increases of Rs.2.36 per Kg and Rs.0.66 per Kg respectively.
A feature of the drop has come exclusively from low grown CTC teas where the negative variance for the month has once again recorded a rate of Rs.52.79 per Kg.
Low Grown CTC’s in particular have faired poorly in 2011 with the to-date deficit increasing to Rs.26.39 as at end April.
Tea Brokers say the Low Grown Average of Rs. 365.66 recorded on the 10th May sale in the auction, is possibly the lowest seen over a period of one year.
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