Currency volatility adversely impacts Sri Lanka tea market

The volatility in the currency continued to adversely impact the tea market with a degree of uncertainty as was evident in the previous week, according to the report issued by Forbes and Walker Tea Brokers.

n general, the Large Leaf teas continued to sell reasonably well, whilst the High & Mid Grown Small Leaf teas met with selective interest and irregular prices at the auction held on Monday 31 July and Wednesday 2 August 2023 on account of an intervening Poya holiday, the report said.

Auction offerings recorded a marginal increase and totalled 6.1 M/Kgs vis-à-vis 5.8 M/Kgs the previous week. The volatility in the currency continues to adversely impact the tea market with a degree of uncertainty as was evident this week. In general, the Large Leaf teas continued to sell reasonably well, whilst the High & Mid Grown Small Leaf teas met with selective interest and irregular prices, Forbes and Walker Tea Brokers said.