Tea prices break all records

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Last month’s national tea sales average of  USD 4.05 per kilo, established the highest ever recorded average for a calendar month surpassing the previous best of  USD 4.14 recorded in  April 2022, Forbes and Walker Tea Brokers said on Friday (5). Tea, according to the Central Bank of Sri Lanka, was the island’s third largest foreign exchange earner last year. 

“In comparison to the July 2021 average of USD 2.99, the total average shows a significant increase of USD 1.06,” it said. The July 2022 average of USD 4.14 records an increase of USD 0.56 when compared to the June 2022 average of USD 3.49, Forbes said.

When analysing the respective elevational averages for the month of July 2022 – Which is the highest ever “High Grown” average for the month at USD 3.37 a kg., it showed an increase of USD 0.54 (19.08 per cent), vis-à-vis USD 2.83 in June 2022. When compared to the July 2021 average of USD 2.81, a significant increase of USD 0.56 is seen, year on year. In related developments, the highest ever “Medium Grown” average for a calendar month totalling USD 3.23 for July 2022 was also recorded,  a significant increase, month on month, vis-à-vis USD 2.78 of June 2022. Meanwhile, when compared to the July 2021 average of USD 2.64, it shows a significant increase of USD 0.59.

“Low Growns” too recorded the highest ever average of  USD 4.50 in July 2022, surpassing the previous best of USD 4.22 recorded in May 2022, a gain of USD 1.33.All elevations record significant gains during the period  January-July 2022 when compared to the corresponding period of 2021, Forbes further said. (PA)