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Monday June 3rd, 2024

Sri Lanka low grown teas ease at auction, high growns up

ECONOMYNEXT – Sri Lanka’s tea price averages fell at an auction March 5-6, dragged with Low Growns weakening, while High and Medium Growns gained, industry data showed.

Sri Lankan tea prices have moved up in 2024 both in rupee and US dollar terms.

The national weekly sale average fell by 20.61 rupees to 1344.39 rupees a kilogram this week, from 1,365 rupees week industry data published by Ceylon Tea Brokers showed.

The weekly average was 4.47 US dollars a kilo, up from 4.21 a week earlier.

Prices have gained from an average of 3.66 US dollar a kilo seen at the last auction in December.

A total of 4.1 million kilos were sold by public auction.

Low Grown Teas

The weekly average of Sri Lanka’s highest priced teas, the Low Grown, fell 54.11 rupees to 1,397.54 rupees.

BOP1 Select best and categories within Bests maintained and fell, whilst Below Best and poorer sorts maintained. OP1 Select best fell irregularly, while best and below best were gained. Poorer sorts of OP1 Select bests maintained. OP and OPA maintained prices, while Select bests varieties gained.

PEKOE/PEKOE1 Select best prices fell, while best and below best maintained. FBOP/FBOP1 Select best prices also maintained, while below best and others prices fell.

BOP Select best and best maintained, while below best and others prices fell. BOPF prices were all round maintained.

Medium Grown Teas

The Medium Grown average went up 14.85 rupees to 1,214.83 rupees.

BOP1 Select best gained by 100 rupees per kilogram, while others moved up by 50 rupees per kilogram. OP1 Select best and best gained by 50 rupees per kilogram, while Below Bests remained unchanged.

OP/OPA in general maintained pricing, while PEKOE/PEKOE1 Select best and best fell by 50 rupees per kilogram. All others in the category fell by 20 rupees per kilogram. FBOP/FBOPF1 Select best gained by 50 rupees per kilogram, while all others maintained.

High Grown Teas

The High Grown weekly average rose 56.98 rupees to 1,268.93 rupees a kilog.

BOP Best Western’s appreciated by 80 to 100 rupees per kilogram, following, while Below best teas gained by 100 rupees per kilo and more.

Nuwara Eliya’s tea prices were irregular, as Uda Pussellawa’s tended to fall. Uva’s gained by 100 rupees per kilogram. BOPF Best Western’s gained 100 rupees per kilogram and more.

Below best and plainer types both maintained and gained by 50 rupees per kilogram.Nuwara Eliya’s few invoices appreciated.

Uda Pussellawa’s gained by 70 rupees per kilogram.

Between the 27 February and 4 March, the Western and Nuwara Eliya planting districts experienced sunny weather throughout. The department of meteorology forecasts misty conditions in the Western province.

Uva and Udapussellawa reported bright conditions during the week. Drier weather conditions are to be expected in both regions.

The Low grown’s experienced sunny conditions, which are expected to be followed by evening showers that are to come to the Low grown district. The Western, Uva and Udapussellawa’s maintained their crop intakes while the Nuwara Eliya and Low grown’s recorded a decline.(Colombo/Mar10/2024)

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Water levels rising in Sri Lanka Kalu, Nilwala river basins: Irrigation Department

Sri Lanka Navy assisting in rescue operations (Pic courtesy SL Navy)

ECONOMYNEXT – Sri Lanka’s Irrigation Department has issued warnings that water levels in the Kalu and Nilwala river basins are rising and major flooding is possible due to the continuous rain. People living in close proximity are advised to take precautions.

“There is a high possibility of slowly increasing prevailing flood lowline areas of Kiriella, Millaniya, Ingiriya, Horana, Dodangoda, Bulathsinhala, Palinda Nuwara and Madurawala D/S divisions of Ratnapura and Kalutara Districts, up to next 48 hours,” it said issuing a warning.

“In addition, flood situation prevailing at upstream lowline areas of Ratnapura district will further be prevailing with a slight decrease.

“The residents and vehicle drivers running through those area are requested to pay high attention in this regard.

“Disaster Management Authorities are requested to take adequate precautions in this regard.”

The island is in the midst of south western monsoon.

DMC reported that 11,864 people belonging to 3,727 families have been affected due to the weather in Rathnapura, Kegalle, Kilinochchi, Jaffna, Mullaitivu, Kalutara, Gampaha, Colombo, Galle, Matara, Hambantota, Puttalam, Kurunegala, Kandy, Nuwara Eliya, Anuradhapura, Polonnaruwa, Badulla, Moneragala, and Trincomalee districts.

Meanwhile, the Meteorology Department stated that showers are expected on most parts of the island today.(Colombo/June3/2024)

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UNP gen secy defends call for postponing Sri Lanka poll, claims opposition silent

The UNP party headquarters in Pitakotte/EconomyNext

ECONOMYNEXT — United National Party (UNP) General Secretary Palitha Range Bandara has defended his call for postponing Sri Lanka’s presidential election by two years, claiming that his proposal was not undemocratic nor unconstitutional.

Speaking to reporters at the UNP headquarters Monday June 03 morning, Bandara also claimed that neither opposition leader Sajith Premadasa nor National People’s Power (NPP) leader Anura Kumara Dissanayake have spoken against his proposal.

“I have made no statement that’s undemocratic. My statement was in line with provisions of the constitution,” the former UNP parliamentarian said.

He quoted Section 86 of Chapter XIII of the constitution which says: “The President may, subject to the provisions of Article 85, submit to the People by Referendum any matter which in the opinion of the President is of national importance.”

Sections 87.1, 87.2 also elaborates on the matter and describes the parliament’s role, said Bandara.

“I spoke of a referendum and parliament’s duty. Neither of this is antidemocratic or unconstitutional. As per the constitution, priority should be given to ensuring people’s right to life,” he said.

“Some parties may be against what I proposed. They may criticse me. But what I ask them is to come to one position as political parties and make a statement on whether they’re ready to continue the ongoing economic programme,” he added.

Bandara claimed that, though thee has been much criticism of his proposal for a postponement of the presidential election, President Wickremesinghe’s rivals Premadasa and Dissanayake have yet to remark on the matter.

“I suggested that [Premadasa] make this proposal in parliament and for [Dissanayake] to second it. But I don’t see that either Premadasa nor Dissanayake is opposed to it. To date, I have not seen nor heard either of them utter a word against this. I believe they have no objection to my proposal which was made for the betterment of the country,” he said. (Colombo/Jun03/2024)

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300 of 100,000 trees in Colombo considered high risk: state minister

ECONOMYNEXT – Trees in Sri Lanka’s capital Colombo are being monitored by the municipal council, Army and Civil Defense Force as the severe weather conditions continue, State Minister for Defense Premitha Bandara Tennakoon said.

“Within the Colombo Municipal Council city limits, there are 100,000 trees. Of these, around 300 are considered high risk,” Tennakoon told reporters at a media conference to raise awareness about the current disaster management situation.

Not all trees required to be cut down he said. “We can trim some of the branches and retain them.”

The problem was that buildings in the vicinity of the tree had cut branches on one side, causing it to become unbalanced, the minister said.

New laws would be brought in so provincial/municipal institutions could strengthen enforcement of building codes.

“We don’t have a single institution that can issue a warning about a tree. Not one to tell us what trees can or cannot be planted near a road.

“Trees should be suitable for the area. Some trees have roots that spread and damage roads, buildings. When the roots can’t go deep, they tend to topple over.

“Now Environment Day is coming up, and anyone can go plant a tree by the road. We have to take a decision about this. We have to enforce laws strongly in future.” (Colombo/June3/2024)

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