Monthly tea auction averages remain on the up

Thursday, 8 September 2016 00:19 - - {{hitsCtrl.values.hits}}

Forbes and Walker said yesterday that the tea auction average for the month of August 2016 totalled Rs. 473.78 vis-à-vis Rs. 385.51 of August 2015 showing a fairly significant gain of Rs. 88.27.

High Grown average of Rs. 437.06 for August 2016 show a gain of Rs. 60.79 vis-à-vis Rs. 376.27 of August 2015, whilst Medium Growns totalling Rs. 415.41 show a growth of Rs. 67.05 vis-à-vis Rs. 348.36 of August 2015.

Low Growns have recorded the highest gain YOY of Rs. 101.78 with the August 2016 average totalling Rs. 498.79 vis-à-vis Rs. 397.01 of August 2015. It is also noteworthy that the Low Grown Orthodox average for August 2016 of Rs. 501.36 surpassed Rs. 500/- for the first time since February 2014. “Another noteworthy feature is that these levels are higher in USD terms too when compared to the corresponding month of 2015,” Forbes and Walker said.

It also said the January-August 2016 total auction average of Rs. 434.82 showed a gain of Rs. 28.91 vis-a-vis Rs. 405.91 of January-August 2015. High Grown average of Rs. 423.75 for January-August 2016 shows a gain of Rs. 39.63 vis-à-vis Rs. 384.12 of January-August 2015. Mediums too totaling Rs. 394.50 show a gain of Rs. 28.56 vis-à-vis Rs. 365.94 of January-August 2015, whilst Low Growns averaging Rs. 449.01 have recorded a gain of Rs. 25.44 vis-à-vis Rs. 423.57 of January- August 2015. It is also relevant to note that these levels show a decrease in USD terms when compared to Jan- August 2015 although there is a growth in Rupees terms.

The monthly averages for July 2016 totalled Rs. 453.44 vis-à-vis Rs. 400.03 of July 2015 showing a gain of Rs. 53.41.