Tea Market Update

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Tea Market Update Tea Market Update Volume 14 No 3 J u l y — September 2018 Government may Intervene in Estate Worker Wage Hike The Government is likely to intervene in the Inclusive increase up to Rs. 940. discussion between the estate workers unions and the Regional Plantation Companies The RPCs had offered two proposals, (RPCs) on a new collective agreement for a i.e. an increase up to Rs. 940 and an- wage hike. The best the RPCs could afford is other proposal to pay from the first kilo an all-inclusive Rs. 940 for its workers, but onwards after the norm Rs. 46 up to 22 Kg that would ensure they obtain Rs. the unions representing the labour workforce have asked the Government to intervene. 1000. However, both these proposals were rejected. Hayleys Plantations had offered the unions a wage hike of Rs. 940 all inclusive with a CWC spokesman state that based on past experience, workers were certain basic wage increase of 20 percent. However they would not be able to earn this Rs. the unions were not interested in discussing 1,000 as they would not be able to meet and had simply walked off saying it was not the requirements for attendance and sufficient. productivity incentives. CWC spokesman informed that during the The collective agreement period has meeting with the RPCs, the CWC leader had lapsed and workers have been cam- called the Prime Minister and requested for paigning on the estates for a Rs. 1,000 an intervention in the wage hike discussions wage hike, insisting that the high cost of living was taking a toll on them. as they were not in agreement with an all Tea Production 2 General Overview Tea Marketing 3 Economy Tea Industry Tea Exports 4 High import growth and capital outflows, The average tea production crosses over in the context of a strengthening US dol- 300 Mkgs. annually from total lands of Trade Fair Participation 5 lar, exerted significant pressure on the 203,000 hectares in the country. According Global Tea Scene 6 exchange rate. Accordingly, in line with to the Ministry of Plantation Industries, several other peer countries such as In- from the total hectare of tea lands, 60% is Research Update 7 dia, Philippines and Indonesia, the Sri under small holdings lands and 40% is un- Lankan rupee depreciated at a faster pace der estates. After completing the first three of 9.7 per cent against the US dollar dur- quarter in 2018, cumulative tea production ing the year up to 01 October 2018. recorded 223MKgs. This conveys a mar- ginal deficit of 09MKgs against 232MKgs Editors: Further upward price revisions to domes- during the same period in 2017. Tharanga Abeysekara tic petroleum products and other admin- Nalaka Sanjeewa Tea Promotion Division istered prices as well as imported infla- Comparatively, the total exports has rec- orded 212.3MKgs from Jan-Sep 2018, E-mail tion arising from the impact of the cur- [email protected] rency depreciation could exert some which also reflects a marginal deficit of 3.5MKgs against the exports from Jan-Sep pressure on inflation in the coming Web-site 2017. This www.pureceylontea.com months. Continue in page …….5 Tea market update Volume 14. No. 3 P A G E 2 + Tea Production Tea Production Table 2 - District wise tea production comparison as at September 2018 (MKgs) rd The crop and Tea production in the 3 quarter of the year conveys 14.47% negative growth which resulted in 10.96 Admin District 2018 2017 Growth Growth % Mkgs negatively impacted to the aggregative production Badulla 19.94 22.13 -2.19 -9.89 during the period compared to the previous year. The Colombo 0.58 0.56 0.02 3.27 negative impact had remained almost similarly in each Galle 32.02 33.82 -1.80 -5.32 Hambantota 0.08 0.14 -0.06 -44.99 months of the quarter. While the Orthodox production of Kalutara 15.57 15.41 0.16 1.05 Teas falls 10.96 Mkgs., the impact of CTC & Green Tea Kandy 25.93 25.81 0.12 0.46 Kegalle 7.83 6.70 1.13 16.84 production had merely affected the negative growth from July – September 2018. Matale 1.05 1.00 0.05 5.28 Matara 26.45 28.90 -2.46 -8.50 Table 1 - Tea production during the third quarter Nuwara Eliya 43.21 44.33 -1.12 -2.53 Ratnapura 50.57 53.77 -3.20 -5.95 2018/2017 (Unit: Million kg) Total 223.22 232.56 -9.35 -4.02 July-September (MKg.) Change When comparing the tea production in district wise, Category Ratnapura ranked the first place with 50.57MKgs 2018 2017 Qty (MKg) % which conveys a marginal drop compared to last year Elevation figure of 53.77MKgs. Nuwara Eliya registered as the High 11.51 13.71 -2.21 -16.09 second highest tea production which recorded a 43.21MKgs tea production for the first nine months in Medium 9.83 10.65 -0.82 -7.66 2018. Low 43.44 51.38 -7.94 -15.46 Total 64.78 75.74 -10.96 -14.47 Chart 1 - Cumulative Tea Production Comparison Processing Method January - September 2018/2017 Orthodox 59.19 69.55 -10.36 -14.89 CTC 5.05 5.59 -0.54 -9.71 Green Tea 0.54 0.60 -0.06 -10.60 Total 64.78 75.74 -10.96 -14.47 A significant 4% negative growth of tea production in 3rd quarter 2018 had resulted, a negative growth in most of the Tea growing districts. The sum of the positive growth in Colombo, Kalutara, Kandy, Kegalle and Matale were insignificant to recover the negative growth in the other districts. Moreover, the production fall in Ratnapura (3.2 Mkg.), Matara (2.46 Mkg.) and Badulla (2.19 Mkg.) have impacted massively to the total 9.35 The positive effort in production in early months up to Mkg. negative growth in production during the period of May in 2018 had not sustained in the 3rd quarter. The July – September 2018. crop during the period was in declining mode com- pared to the previous year. The years’ lowest produc- tion has recorded in the 3rd quarter and it was in the month of September. PUBLICATION OF TEA PROMOTION DIVISION—SRI LANKA TEA BOARD Tea market update Volume 14 . No. 3 P A G E 3 + Tea Marketing The prices decline witnessed during third quarter in Table 5 –Most Traded Grade wise quantity sold and price comparison during the 3rd quarter 2018 2018 which attributed to the less demand in major Ceylon Tea markets. The average price was declined to Rs.536.45/ Grades Sold Qty (Kgs) Avg. Price Kg in third quarter 2018. ORTH-FBOPF1/FBOPF 7,234,810.00 578.50 Table 3 - Teas Sold and prices fetched in third quarter ORTH-FOP/OP1/OP 6,761,154.00 575.96 2018/2017 (Unit: Qty-Mkg, Rs/Kg) ORTH-OPA 6,344,564.00 488.23 ORTH-BP/BM 5,805,267.00 374.82 2018 - July to September 2017 - July to September ORTH-FP/PEK 5,136,373.00 633.41 Price Price Elevation Qty Price Qty Price (SL (SL ORTH-BOPF 5,125,413.00 555.38 (MKg) (US$) (MKg) (US$) Rs) Rs) ORTH-FBOP1/FBOP 5,062,737.00 607.49 High 12.98 556.49 3.45 13.65 590.64 3.85 ORTH-PEK1 4,346,286.00 713.43 Medium 12.16 478.16 2.96 12.40 540.62 3.53 ORTH-BOP1A 3,772,549.00 376.79 Low 47.66 545.86 3.38 51.72 632.41 4.13 ORTH-BOP 3,041,433.00 607.43 Total 72.79 536.45 3.32 77.77 610.45 3.98 ORTH-DUST1 3,029,809.00 582.63 CTC-PF1 2,545,926.00 515.12 During the third quarter 2018, the drop in tea export earn- ORTH-BOP1 1,912,301.00 647.21 ings has affected the FOB prices. The prices in all three elevations are lower than in 2017. The total national aver- CTC-PD 1,349,069.00 519.33 age price of teas sold at Rs.536.45 per kilogram in the third CTC-BP1/BPS 590,970.00 434.39 OTHERS 10,730,995.55 454.56 quarter 2018, comparatively the price was at Rs.610.45 in the same period in 2017. Total 72,789,656.55 536.45 In respect of a grade wise price analysis, prices of leafy Table 4 – Sub district Auction average comparison dur- grade offerings improved significantly. ing as at September 2018/2017 (Rs/Kg) January to September 2018 Table 6 - Teas Sold and prices fetched in Trading Price Sub District Change Channels (Unit: Qty-Mkg, Rs/Kg) 2018 2017 change % per kg Third Quarter Nuwara Eliya 581.5 578.06 3.44 0.60 Different 2018 2017 Westerns (8 areas) 583.38 598.68 -15.30 -2.56 channels Qty Price Qty Price Mediums (9 areas) 520.64 556.54 -35.90 -6.45 (MKg.) (Rs./Kg.) (MKg.) (Rs./Kg.) Uda Pussellawa (2 areas) 511.68 551.07 -39.38 -7.15 Public Auction 71.04 533.49 76.67 609.47 Uvas (8 areas) 534.55 574.84 -40.29 -7.01 Private Sales 1.18 667.66 0.65 687.24 Low Growns (10 areas) 605.12 639.52 -34.40 -5.38 Direct Sales 0.57 634.16 0.45 665.43 Total 72.79 536.45 77.77 610.45 Average price 581.92 613.68 -31.77 -5.18 In addition to the average price in first nine months 2018, According to the table 6, 72.79MKg of tea were sold sub district of Nuwara Eliya recorded slight improvement during the third quarter which is lower than the previ- while other sub district’s prices have dropped.
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