The Hindu Business Line : Global tea prices increase in Q1

Coonoor, May 26 Tea prices have increased in all the auction centres across the world except Jakarta in the first quarter of calendar 2008 over the same period last year, an analysis of market reports from various auction centres indicates. Sri Lankan teas continued to fetch the world’s highest price. Between January and March 2008, prices averaged $3.04 a kg at Colombo auctions. This was 80 cents or 35.71 per cent more than January-March 2007. In dollar terms, no other auction centre posted this much increase. In percentage terms, this was the second highest, next to Chittagang.

Kenyan teas fetched the second highest price in global trade. In the first quarter of the current calendar, price at Mombassa auctions averaged $2.19 a kg. This was 53 cents or 31.93 per cent more than last calendar. In dollar terms, this was the second highest increase among all auction centres

India trend

Indian teas fetched the world’s third largest price average of $1.64 a kg — that is, 28 cents or 20.59 per cent more than last calendar. Of them, prices at North Indian auctions rose 34 cents (23.94 per cent) to reach $1.76. Prices at South Indian auctions increased 18 cents (14.63 per cent) to touch $1.41.

Indonesian teas ranked next in price average. At Jakarta auctions, prices averaged $1.43 a kg. This was 8 cents or 5.3 per cent lower than last calendar. This was the only auction centre to have posted a lower price average this calendar. Bangladesh teas fetched the next highest average price.

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