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| Sunday, 6 October 2002 |
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Business |  |
| News Business Features Editorial
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World crop on the decline A lower rain fall in Kenya and Sri Lanka, together with excessive rain and floods in India, has increased the world deficit in tea crop when compared with last year. The effect on the excessive rain in North India has reduced the production substantially, with India's todate deficit at 34.8 mkg, the John Keells Ltd report said. In Sri Lanka, the first quarter of 2001 witnessed record crops for January, February and March, and it was therefore no surprise that such figures could not be matched in the current year with the relatively dry conditions that were experienced. However, April and May this year were at all time record levels, and together with a good crop in June as well as July, Sri Lanka's production went slightly ahead of last year. The harvest in August was marginally below the corresponding month, and production todate is 3.5 mkg more than the corresponding period. September has been a low cropping month but as last year September too was quite poor, there is every possibility that a similar harvest will be achieved. As the major decline is from India and Kenya, a tight supply situation would be felt for small leaf grades, especially for CTC teas. Orthodox BOPFs, and CTC PF1 teas will therefore continue to attract reasonably good prices in the ensuing months. However, it can be observed that, the production of Low Grown teas in Sri Lanka is only slightly below the corresponding period of last year. Hence, the normal market pattern should follow in respect of the demand that can be expected from Middle East and CIS for our Low Growns. |
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