Tea prices fluctuate in Sri Lanka's auction amidst trends

The latest auction on March 12-13 witnessed a varied trajectory in Sri Lanka's tea prices, with Low Growns experiencing a continued decline, while High and Medium Growns saw marginal gains, as per industry data. 

Despite the overall fluctuation, Sri Lankan tea prices have exhibited an upward trend in 2024, both in local rupee and US dollar terms.

According to figures released by Ceylon Tea Brokers, the national weekly sale average dipped by 5.66 rupees to 1338.73 rupees per kilogram, compared to the previous week's 1344.39 rupees. However, in dollar terms, the weekly average stood at 4.36 dollars per kilo, slightly higher than the preceding week's 4.47 dollars.

The current prices reflect a notable increase from the average of 3.66 US dollars per kilo recorded at the auction in December. Despite the fluctuations, a substantial volume of 4.7 million kilos were successfully traded through the public auction system.