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| Sunday, 13 July 2003 |
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Business |  |
| News Business Features Editorial
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Good demand for Low Grown Teas Low Grown Teas stayed buoyant during the past few weeks, compensating for some of the losses suffered by producers during the first six months of this year when the Iraq war brought down the prices very sharply followed by the floods. In the last three auctions, the Low Grown average has been Rs. 166.35, Rs. 166.09 and Rs. 167.09. The average for June was Rs. 164.98. These averages are higher than the levels of the corresponding period last year. The Low Grown monthly average during the current year is: January - 163.55; February - 147.46; March - 143.97; April - 146.22; May - 159.87 and June - 164.98. At this week's auction too, Low Grown Teas were received by Middle Eastern and CIS buyers with prices for many grades advancing from previous levels. A noticeable improvement was from Russia and Saudi Arabia while Iranian buyers were still active for the Flowery Grades. Turkey, Syria and Libya were also quite active. The Liquoring Teas however, continued to be neglected as some of the leading buyers continued to make selective purchases. The demand from UK, South Africa, Japan and the Continent continued to be lukewarm. The liquoring properties of many of the teas showed a fair improvement but, the poor leaf appearance prevented an improvement in prices. The High Grown average for the past three auctions make dismal reading at Rs.107.18, Rs. 106.23 and Rs. 105.25. |
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| Editorial | Security Produced by Lake House |
