The Colombo tea auction has begun 2024 on a mixed note with better prices month-on-month but down year-on-year.
Forbes and Walker Tea Brokers said the National Sales Average (NSA) in January was up Rs. 88.90 or 7.5% to Rs. 1,275.31 per kilo in comparison to December 2023 but down by 13% or Rs. 191.45 from a year ago. On a US Dollar basis, dip month-on-month was 9% or $ 34 cents to $ 3.99 per kilo whilst in January last year it was $ 4.04 per kilo.
The NSA for High Grown average for January 2024 was up Rs. 18.26 and $ 11 cents from December whilst lower Rs. 304.80 and $ 43 cents year on year.
Medium Grown average for January saw a gain of Rs. 67.26 and $ 27 cents from December and down Rs. 156.53 and $ 0.02 cents YOY.
Low Grown average had gained Rs. 113.91 and $ 43 cents in January as against December whilst a decrease of Rs. 152.40 and a marginal increase of $ 0.11 cents was recorded YOY.
The NSA in 2023 was Rs. 1,171.29 per kilo down Rs. 63.95 or $ 25 cents in USD terms compared to 2022.
FT