SL tea crop unlikely to show significant gains in 2024
The year 2024 draws to end with mixed outcomes. Sri Lanka tea crop is unlikely to show any significant gains and is likely to settle around the 255-258 M/Kgs said Forbes & Walker Tea Brokers.
The continuance of low production remains a concern to the industry which is challenged by the ill effects of climate change, aging tea bushes and the high cost of chemical fertilizer compounded by the irregular usage.
In addition, economic difficulties in importer countries have taken its toll from time to time and more recently, the strengthening of the Sri Lankan Rupee has to some extent adversely impacted the rupee tea prices.
In this backdrop, the 51st and final auction of the year which concluded on Tuesday was a one-day restricted sale with a total quantity of 4 M/Kgs.
Low Grown teas continued to meet with reasonably good demand notwithstanding the price fluctuations within grades, whilst the liquoring teas and particularly the corresponding BOP/BOPF’s witnesses less demand, and often an easier trend in prices for most teas on offer.
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