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| Tuesday, 29 June 2004 |
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Tea comment : Planters anticipate successful Uva season by Steve A. Morrell The tea auctions last week did not cause much excitement in buying circles, and neither was there enthusiasm at plantation levels. This was considered normal according to tea brokers. However, the silver lining to this dark cloud was that the expected Uva season was beginning to show, the Brokers said; particularly in estates in the Malwatta Valley in the plateau area skirting the Bandarawela hills. Although some estates were beginning to show bright infusions and Uva character, Brokers said that whatever they had seen was not universal but localised in small pockets. They said some estates had commenced their routine manufacture around midnight which was a good sign. "As the season progresses, manufacture could start even earlier, and planters were enthusiastic that they could look forward to a successful season", the brokers said. Planters said that this year they were expecting a good Uva season in that prices could move to the Rs. 800 per kilo mark, and could be sustained till the season ended sometime mid September. The tea auctions last week had on sale approximately seven million kilos sold in 9800 odd lots. According to production results submitted by the Tea Board, in May this year the crop was approximately 30.4 million kilos, and compared to 2003 (At 27.1 million) there has been an increase of three million kilos. However, some plantation companies were not particularly excited with these results because costs had gradually increased and worse, the heavy rains in the South West hills affected the crop. Dry weather has set in, in Uva and notwithstanding the expected high prices, the drop in crop caused substantial escalation in costs. The Indian Tea Board reported that they would set up tea parlours or tea boutiques across the country to lure the Cola drinking young people back to the tea habit, particularly young people who preferred Cola. Tea would be projected as an allround health habit. The parlours would be set up on a franchise basis and the Tea Board will provide some financial assistance. Overall although macro results for the industry have shown progress both in production and sales prices most plantation sources continue to view their progress as being 'Not so good'. Top prices last week included Kenilworth and Velai Oya on the western mid Grown slopes at Rs.350 per kilo BOP, and Rs. 188 per kilo BOPF. In the Western high grown category, Moray and Bogowantalawa, sold at the upper level of Rs. 220 per kilo and Rs. 242. Of the Uvas, Oodoowera and Chelsea were the top sellers. Next week 6.3 million kilos will be on offer which will be a drop of almost of .08 million kilos compared to last week. |
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