All plantations back in production

Monday, 10 November 2014 00:00 - - {{hitsCtrl.values.hits}}

Producer broker John Keells Ltd., said that all plantations were back in production by last week after a short break on account of the Diwali holidays as well as the catastrophic incidents that took place in Koslanda – Uva Province- where a massive earth slip submerged over 105 living quarters of the workers causing a loss of over 35 lives.

“This incident had disrupted work in many Plantation sub districts. Since the resumption of work, intakes have shown a slight improvement from all three elevations but nowhere near what it should be. Some plantation districts particularly in the Uva and Western Sectors are continuing to experience heavy rain fail. The disappointing crop we are seeing now is an unusual situation as the last quarter in general is a cropping period resulting in much higher intakes,” John Keells said. It also said the Sri Lankan national average stood at Rs.447.91 per kg for the month of October 2014. This is significantly lower (-9.49%) to the Rs.494.88 achieved during the same month last year. The biggest losses have been from the Low Grown (-13.44%) and Mid Grown (-4.58%). The High Grown has recorded a marginal increase of (+0.40%). The to-date (Jan. - Oct.) national average still stands higher at Rs.465.88 compared to Rs.436.07 per Kg during the same period last Year. Commenting on last week’s auction, John Keells said the 1.08Mkgs of Ex-Estate teas met with a lower demand and sold irregularly lower with a number of invoices remaining unsold for want of bids. The quality of Western High Grown teas have been below expectations with some buyers unable to quote for the best standards. The ongoing conflict in the Middle East and Russia has slowed down the trading process. The further devaluation of the ‘Ruble’ too is not aiding this situation. Best Western High Grown BOPs declined by Rs.10/- to Rs.20/-, whilst the below best and plainer types were irregularly lower. BOPFs on average too declined Rs. 20/- to Rs.30/- . Nuwara Eliya BOPs were firm to a little easier as the sale progressed. BOPFs were Rs.40/- to Rs.50/- easier. Uva BOPs and BOPFs too were of a lower market although some semi leafy invoices sold well. Best Low Grown CTC PF1s were easier by Rs.20/-, whilst the plainer sorts too declined. The High and Medium CTC PF1s met with lower demand. Once again the 3.6 Mkgs of Low Growns that were on offer this week, met with lower demand. In the leafy segment, there was less demand. Most varieties shed Rs.20/- and more at times, whilst many invoices were difficult of sale, due to lack of demand and suitable bids. In the Small leaf category, demand was slightly better however, prices were mostly lower by Rs.10/- to Rs.20/- for FBOP/FBOPF1s whilst, the tippy varieties too declined in value. Middle Eastern and Russian buyers purchased selectively, John Keells said.