Sri Lanka tea prices seen heading for correction
Sri Lankan tea prices appear to be heading for a correction with many grades from the estates easing at this week's Colombo auctions where a larger volume was on offer, brokers said.
Bartleet Produce Marketing said the quantity of tea arriving at the Colombo auction this week increased to 8.08 million kg from 6.89 million kg traded the previous week.
There was lower demand for teas from the estates compared with last week while the ex-estate crops were also lower.
"In the Ex-estate segment, the market witnessed an overall lower demand as compared to last week," it said in a market report.
But low grown teas, cultivated mainly by small holders in the southern districts, continued to sell well.
The stronger-than-usual buying in recent weeks that had kept prices high was expected to end, the brokers said.
Read more,
http://www.lankabusinessonline.com/fullstory.php?nid=1212020835
Bartleet Produce Marketing said the quantity of tea arriving at the Colombo auction this week increased to 8.08 million kg from 6.89 million kg traded the previous week.
There was lower demand for teas from the estates compared with last week while the ex-estate crops were also lower.
"In the Ex-estate segment, the market witnessed an overall lower demand as compared to last week," it said in a market report.
But low grown teas, cultivated mainly by small holders in the southern districts, continued to sell well.
The stronger-than-usual buying in recent weeks that had kept prices high was expected to end, the brokers said.
Read more,
http://www.lankabusinessonline.com/fullstory.php?nid=1212020835
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