National Tea Sales average for the month of November 2018 totalled Rs. 584.58 vis-à-vis Rs. 586.19 of October 2018, showing a marginal decrease of Rs. 01.61 month on month. However, in comparison to the November 2017 average of Rs. 626.85, it shows a decrease of Rs. 42.27, Forbes and Walker Tea Brokers revealed yesterday.
It said High Growns totalling Rs. 547.64, lowest since July this year, has recorded a sharp decrease of Rs. 64.40 vis-à-vis Rs. 612.04 of October 2018. When compared to November 2017 a substantial decrease of Rs. 96.42 is recorded YOY.
Mediums, averaging Rs. 516.22, has recorded a decrease of Rs. 24.02 vis-à-vis Rs. 540.24 recorded in October 2018. However against November 2017, which recorded Rs. 565.86, it shows a decrease of Rs. 49.64.
Meanwhile, Low Growns totalling Rs. 615.56 have recorded an increase of Rs. 24.57 vis-à-vis Rs. 590.99 of October 2018. When compared to Rs. 636.12 of October 2017, it shows a decrease only of Rs. 20.56 YOY.
Forbes and Walker Tea Brokers also said the January-November 2018 cumulative average of Rs. 582.55 shows a YOY decrease of Rs. 35.41 recorded vis-à-vis Rs. 617.96 of January - November 2017.
High Growns for the period January-November 2018 with an average of Rs. 571.95 has shown a decrease of Rs. 26.65 vis-à-vis Rs. 598.60 of January-November 2017. Mediums, too, averaging Rs.563.87, has shown a decrease of Rs. 40.95 vis-à-vis Rs. 563.87 of January-November 2017. Meanwhile, Low Growns totalling Rs. 601.32 for January-November 2018 has shown a decline of Rs. 37.05 vis-à-vis Rs. 638.37 of January-November 2017.
"Both the month and cumulative averages continues to show a greater decrease in USD terms, compared to the corresponding periods of 2017, with the Sri Lankan Rupee depreciating sharply particularly in the months of September, October, and November ," Forbes and Walker added.