Sri Lanka Tea production is likely to be around 300 million kilos in 2018
Dec 23, Colombo: Notwithstanding the labor unrest on plantations in the month of December and the curtailment of tea production, Sri Lanka's tea production is likely to be around 300 million kilos in 2018, Forbes & Walker Tea Brokers said in a report.
According to the report, the latest tea production statistics available for the month of October totals 29.6 M/kg versus 25.7 M/kg in 2017 (an increase of 3.8 M/kg - 14%).
"Considering that production up to October totals 251 M/kg and assuming that production in November/December would remain static around the 2017 figures, notwithstanding the labour unrest on plantations in the month of December and the curtailment of tea production, Sri Lanka is likely to achieve the 300 M/kg mark. A reasonable recovery from the disastrous 2nd and third quarters," the brokers said.
The report predicted an upward movement in prices, particularly in the first half of 2019 for most varieties of orthodox teas.
The market demand for teas thereafter, would greatly depend on how the global tea industry would progress during the first half, the brokers said.
Source - http://www.colombopage.com/archive_18B/Dec23_1545543283CH.php