History of Ceylon Tea

Amidst the ongoing conflict between Russia and Ukraine, and the sanctions imposed on Russian banks, the Colombo Tea Auction prices largely remain unchanged.

Perhaps a degree of uncertainty and volatility in the future would no doubt be a concern for the Sri Lankan tea sector considering the ‘Ceylon Tea’ presence in both these markets, Forbes & Walker Tea Brokers said. Undoubtedly trading conditions are likely to be strained and additional war risk surcharges would further escalate the high logistics rates, which have already adversely impacted tea prices.

Total Auction offerings declined sharply and totaled 4.98 M/Kgs from the 6 M/Kgs on offer the previous week. Meanwhile, National tea sales average for the month of February 2022 recorded Rs. 725.63 (USD 3.61), thus establishing the highest ever recorded average for a calendar month surpassing the previous best of Rs. 704.67 (USD 3.56) recorded in the month of January 2022.In comparison to the February 2021 average of Rs. 645.95 (USD 3.35), shows a significant increase of Rs. 79.68 YoY.