Written by Staff Writer
27 Oct, 2015 | 9:33 pm
Data from the Ceylon Tea Board reveal that the price of low country tea is once again becoming stable in the Colombo tea auction.
The prices are stabilising in the auction in a backdrop where the price of local tea, the export quantity and the export earnings were at a low. A kilogramme of low country tea stood at Rs. 365.32 at the opening auction at the beginning of the month of October.
However, the price of a kilogramme of low country tea was auctioned for RS.399.61 , an increase of RS. 34.39. Ceylon Tea Board data further reveal that the price of a kilogramme of middle country tea and up country tea has increased considerably.
Tea industrialists faced a crisis over the drop in prices as a result of declining demand from the Middle East and Russia. They engaged in a demonstrations in the recent past urging the government to implement new mechanisms to protect their industry.
When compared to the first eight months of the last year the export earnings of tea has reduced by 17% compared to the same time frame this year and in the month of August alone the export earnings had reduced by 34%.
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