The Ceylon Tea cuppa for the month of April recorded an impressive sales average reaching the highest ever gain, a development that is much welcome for the industry that is determined to steer forward amidst new challenges brought about by the global pandemic.
Data released by the Sri Lanka Tea Board (SLTB) showed that the national sales average for April 2020 reached Rs. 689.18. The figure is the highest ever recorded for a calendar month surpassing the previous best of Rs. 648.52 recorded in April 2017.
Compared to Rs. 595.22 of March 2020, April 2020 records a significant increase of Rs. 93.96 month-on-month, which is also the highest recorded gain month-on-month, analysis from Forbes & Walkers Tea Brokers showed.
In comparison to April 2019 average of Rs. 578.23, the April 2020 sales show an increase of Rs. 110.95 Year-on-Year (YoY).
“When analysing the respective elevational averages for the month of April 2020, High Growns totalling Rs. 638.95 for April 2020 have recorded an increase of Rs. 78.85 month-on-month vis-à -vis Rs. 560.10 of March 2020,†Forbes & Walkers Tea Brokers said in their latest tea report.
Compared to April 2019 average of Rs. 540.97, a significant increase of Rs. 97.98 is recorded YOY. Mediums averaging Rs. 612.72 for April 2020 have recorded an increase of Rs. 72.65 compared to the Rs. 540.07 of March 2020.
When looking at the April 2019 average of Rs. 508.14, the April 2020 figure shows a significant increase of Rs. 104.58.Â
Highest ever Low Grown average for a month totalling Rs. 739.82 was recorded in April 2020 surpassing the previous best of Rs. 668.58 recorded in May 2017. This is a significant increase of Rs. 114.04 when compared to the Rs. 625.78 recorded in March 2020.
Meanwhile, it also shows a significant increase of Rs. 131.75 YoY when compared to Rs. 608.07 of April 2019.
Analysis of January–April 2020 cumulative average of Rs. 618.17 shows an increase of Rs. 34.62 compared to the Rs. 583.55 recorded in the corresponding period of the previous year.
High Growns for the period January-April 2020 of Rs. 577.72 have shown an increase of Rs. 12.03 vis-Ã -vis Rs. 565.69 of January-April 2019. Mediums averaging Rs. 547.11 have shown an increase of Rs. 36.85 vis-Ã -vis Rs. 510.26 of January-April 2019.Â
Meanwhile, Low Growns totalling Rs. 653.48 for January-April 2020 have shown the highest increase of Rs. 44.83 vis-Ã -vis Rs. 608.65 of January-April 2019.
The monthly averages show an increase when analysed in US$ terms even with the depreciation of the Sri Lankan rupee during the month, whilst cumulative averages do not show a significant variance. Â
Overall, the monthly averages show an increase when analysed in US$ terms even with the depreciation of the Sri Lankan rupee during the month, whilst cumulative averages do not show a significant variance. Â
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