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| Sunday, 9 June 2002 |
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| News Business Features Editorial
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7m kilos traded at Tea Auction Seven million kilos of tea which consisted of 1.1 million kilos of ex-estate offerings and 5.9 million kilos of main sale offerings came under the hammer at the Colombo Tea Auction last week. According to the Forbes and Walker Tea Brokers Weekly Tea Market Report, prices for select best teas declined following quality. However, prices at the bottom end of the market moved up for the first time in four weeks. Below best varieties too went up in value. There was selective demand from the UK and some activity from Japan. Widespread demand prevailed for a cross-section of BOPs and BOPFs from the CIS while shippers to Tunisia were active on the bottom end BOPs. Meanwhile, tea exports during April had declined by 3.1 million kilos or 13.6 per cent compared to April 2001. Tea in bulk, packets and bags had also recorded declines with the largest decline of 42.3 per cent being recorded by the packet sector. According to the Forbes report, export earnings for April too went down by 7.6 per cent. Tea in packets again accounted for the largest decline of 31.4 per cent. However, export earnings during the period January-April this year of Rs. 21 billion is a growth of 2.8 per cent from the Rs. 20.5 billion recorded during the corresponding period of the previous year. |
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| Editorial | Security Produced by Lake House |
