Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Drought in Sri Lanka may raise global tea prices
Mon, Apr 14, 2014, 11:39 am SL Time, ColomboPage News Desk, Sri Lanka.

Apr 14, Colombo: The prolonged drought in Sri Lanka's tea growing regions may raise tea prices globally, tea industry analysts predict.

The drought across Sri Lanka in the first three months of this year has contributed to a 50 percent fall in tea production on previously corresponding period, according to industry sources, a CNBC report said.

"In a context where tea prices have been falling - last year tea prices fell 40 percent which was the most precipitous fall in the history of the commodity - it's conceivable that tea prices are going to ascend in this context," a Standard Chartered analyst Nirgunan Tiruchelvam has told CNBC.

According to the Sri Lanka Tea Board some 400,000 small tea holders in Ratnapura, Kalutara, Galle and Matara districts are among the worst affected.

Out of the island's 206,104 hectares of tea plantations 70 percent are small holdings which are cultivated by 397,223 small holders who produce 1.5 million kilos of tea. The small holdings are spread over 14 districts including Ratnapura, Matara and Galle.

The tea production fell 9.7 percent to 22.5 million kilograms in February this year from 24.9 million kilograms in the same period of 2013.

Sri Lanka is the second largest exporter of tea. Last year Sri Lanka's tea production rose to 339 million kilograms.

ColomboPage - Recent 10 Stories
Murali Harmony Cup 2014to launch on 29 October in Sri Lanka's North
-- [25 minutes ago]
President presents Sri Lanka's next year budget promising relief for all sectors
-- [1 hour and 59 minutes ago]
Sri Lanka's 2015 budget focused on long term development - Central Bank Governor
-- [7 hours ago]
Sri Lanka joins China-led Asian Infrastructure Investment Bank
-- [7 hours ago]
Sri Lanka hires eighth lobbying firm in the US
-- [9 hours ago]
Sri Lanka business chamber to host seminar on bilateral trade with UK on October 29
Counter arguments raised to support Sri Lankan President's eligibility for the third term
Three Sri Lankans alleged of spying for Pakistan charged in Indian court
Sri Lanka ruling party secretary launches campaign for prime minister post
Beggars under watch in Sri Lanka after an abducted child was found with a beggar

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.