Sale No: 24
Date: 20th and 21st June, 2017
Sri Lanka harvested a crop of 29.5Mkgs during the Month of May 2017, recording a decrease of its previous year’s crop of 30.8Mkgs, a decline of 4.4%. The main contributor for the 29.4Mkgs was from the Low Grown planting districts with 57.4% followed by the High Growns at 25.7% and the Medium Growns at 16.8%. When compared with the 2016 harvest, negative variances have been recorded in the Low Growns at 3%, Medium Grown at 4% and the High Grown at 9%.
The Sri Lanka Tea Exports for the Month of May 2017 was recorded at 24.3Mkgs which is an increase of 14.3% when compared to the same period of the previous year. The FOB value at Rs.824.43 was Rs. 206.92 above the FOB value of 2016. As a result the value of the Tea Exports for the month of May has exceeded by Rs. 6.9 billion over the previous year. The tea export quantity for the first five months of the year has recorded a 4.3% decrease, however recording a 24.6% increase in export earnings due to the higher FOB value by Rs. 183.62 when compared to the same period last year. Russia has maintained its position as the leading importer of Sri Lanka Tea. The other Major importers of Sri Lanka Tea are Iraq, Turkey and Iran. The demand from the U.A. E. was astoundingly low while other countries such as Libya, Azerbaijan, China, Japan and Chile lent useful support.
0.9 Mkgs of Ex Estate teas on offer met with improved demand. Best and below best Western High Grown BOP/BOPFs appreciated. The plainer varieties too were irregularly dearer. Nuwara Eliya BOPs gained on last week’s levels, whilst the BOPFs were tending a little lower. Uva/udapussellawa BOPs were generally firm, whilst the BOPFs were irregular following quality. High & Medium Grown CTC BP1s were firm to a little easier at times, whilst some of the Low Growns appreciated following quality. High Grown PF1s were tending dearer, whilst the Medium Growns were firm to a little irregular following quality. Low Grown PF1s were tending dearer.
The 2.5 Mkgs of Low Growns that were on offer, met with good demand. In the Leafy category, Select best OP1/BOP1s appreciated a few rupees, best and below best types maintained last levels. OP/OPAs were firm, Pekoe/Pekoe1s maintained last levels, however there were better inquiries on bold Pekoes. In the Small leaf segment, BOP/BOP.SPs and FBOPF/FBOPF.SPs met with fair demand following quality. Better FBOPs maintained last levels, whilst the others shed a few rupees. Good demand maintained for FBOPF1s. There was better interest for the premium flowery teas.
Turkey and Russia lent more support with fair interest from Syria, Iran and Iraq. There was less demand from Libya.