Notable
RPCs are already brought under Finance Ministry by President Wickremesinghe
However prices were down from March highs
"RPCs benefitted from weakening of the rupee that gave them an over 80% increase in rupee revenue in 2023 vs 2021"
Plantation workers will have to be paid 1350 rupees a day, there will be a ‘daily special allowance’ of 350 rupees
Medium growns fell from 4.51 to 3.55 and low growns fell to 13.32 from 14.92 million kilograms
“What they do is for private estates, they will get a retired person from the army or the Police,”
Tea exports were down by 8.2 million kilos to 241.9 million in 2023
In US dollar terms, average tea prices fell to 3.63 a kilo, or down 9.25 percent.
Gov to provide fertilizer for tea plantations through state-owned Colombo Commercial Fertilizers and Ceylon Fertilizer
This contributes significantly to the cost of production of Sri Lanka’s tea industry.
Export earnings total $1.19bn up to November
Output for the 11 months was up from last year, industry data showed.
US dollar values still up
Amaraweera promotes high-density tea cultivation system and use of new technology to increase yields.
India reemphasizes it commitment to IOTs in Sri Lanka.
Small holders were also offered an interest free loan to help apply fertilizer.
| Latest | Last | |
|---|---|---|
| US Dollar | 305.1018 | 305.3339 |
| UK Pound | 386.9523 | 387.2371 |
| Euro | 330.8712 | 332.1141 |
| Aus Dollar | 201.0018 | 201.4980 |
| Yen | 2.0266 | 2.0278 |
| Latest | Last | |
|---|---|---|
| Indian Rupee | 3.6453 | 3.5932 |
| Korea Won | 0.2342 | 0.2292 |
| Oman Rial | 780.3569 | 769.4973 |
| Saudi Riyal | 80.1114 | 78.9849 |
| UAE Dirham | 81.7952 | 80.6569 |
| pts | % | |
|---|---|---|
| S&P SL20 | 2,573.80 | 1.00% |
| CSE All Share | 9,073.41 | 0.65% |
| Turnover Rs million | 1,591,766,524.95 | 1,029,335,694.32 |
| Latest | Last | |
|---|---|---|
| 3-m bill | 21.72 | 21.79 |
| 6-m bill | 19.55 | 20.31 |
| 12-m bill | 17.72 | 19.28 |
| 5-yr bond | 21.00 | 22.53 |
| 8-yr bond | 19.42 | 20.55 |
| today | yesterday | |
|---|---|---|
| Overnight Money | 13.93 | 14.00 |
| Gilt Repo | 13.50 | 14.00 |
| I-m SLIBOR | - | - |
Tea export revenues fell 3.8 percent to 119.63 million US dollars in Aug 2023 from 124.4 mn US dollars a year ago
Sri Lanka exported 22.7 million kilograms of tea in July, down marginally from 44.7 million kilograms last year.
The tax was 25 rupees per liter in June and has now been increased to 50 rupees from this month - minister
Total auction volume declined to 5.7 million kilos from the last week 6.4 million kilograms.
In 2020 a machine was developed to pluck selected tea leaves.
There is a big demand for Ceylon Tea and there will be a big demand for Ceylon Tea Wine.
Majority of Low Growns prices also fell while Mid Growns prices grew.
Production is expected to recover in 2023, with the fertilizer being applied.
In 2023 so far, the country has exported around 91 million kilos.
In the weakening of rupee tea prices and buyers making purchases only for immediate shipments.
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