Bangladesh tea prices fall amid supply glut

Dhaka (Reuters): Tea prices fell at Bangladesh’s weekly auction amid a higher supply than the previous sale, although strong demand for quality leaf capped a steeper price decline.

 

Bangladeshi tea fetched an average price of 236.68 taka ($ 2.80) per kg at the auction held on Tuesday, compared with a revised price of 238.47 taka at the previous sale, National Brokers said.

 

There was muted demand overall but good demand for quality leaf, which helped limit a steep drop in prices when supplies were higher than last week, a senior official at National Brokers said.

 

Demand for tea in Bangladesh usually rises in winter.

Around 21% of the 2.75 million kg offered at the sole auction centre in Chittagong remained unsold. In the previous auction, 14% of the 2.59 million kg on offer was unsold.

 

Bangladesh’s tea production jumped nearly 27% last year to a record 85 million kg, helped by favourable weather conditions and making imports a choice not a necessity.

 

The South Asian country was the world’s fifth-largest tea exporter in the 1990s but is now a net importer due to a surge in domestic consumption in line with economic growth.

 

Daily FT, 26th January 2018.

Dilmah replaces tea with wilderness

Reconnecting fragmented forests to protect the

 

diversity of life 

Dilmah Founder, Merrill J. Fernando removed the first tea plant at Dilmah’s Endana tea garden in a symbolic gesture, initiating the reforestation of the fragmented Delwala Kanda and Walankanda Forest Reserves. The estimated three-kilometre long nature corridor linking these two sites reaffirms the Founder’s commitment towards sustainability and diversity of life, as Dilmah Tea continues into the 30th year of its existence. 

 

“As a company dedicated towards making business a matter of human service, we understand the sensitivities and the ecological aspects of the plantations that we have inherited through a 150-year-old colonial agro-economic system. Thus, we resolve to minimise the impact of monoculture and do no compromise on the importance of biodiversity not only in the Endana Estate but at all the Dilmah tea plantations,” said MJF Tea CEO Dilhan C. Fernando, on the 30th anniversary of Dilmah. 

 

According to the National Conservation Review of Sri Lanka prepared in 1997, the Delwala Kanda and Walankanda region are among 13 other fragmented forest territories that are in close proximity to the highly endemic Sinharaja rainforests which is recognised as a Biosphere Reserve and World Heritage Site by UNESCO. Biodiversity surveys conducted previously in the region determined that the Endana estate harbours 180 floral species of which 37 are endemic. The region around the Delwala forest reserve was found to exhibit a similar species richness with a total 177 plant species of which 49 were found to be endemic with 5 among these listed as endangered, 26 as vulnerable and 21 as nationally threatened according to the IUCN Red List of 2012.

 

Delwala Kanda and Walankanda are fragmented into small forest patches by nearly 100 years of tea plantation, first introduced into this region in 1915 by British colonialists. Commenting on Dilmah Conservation’s efforts at conserving the biodiversity of these low rainforest areas dominated by the Sinharaja Forest Cluster, Professor Nimal Gunatilleke stated, “It is a very important step in the direction of strengthening genetic diversity of the flora and fauna found in these fragmented forest terrains, l through the exchange of genetic material which in turn will ensure the long-term survival of the species.” 

 

The Endana Estate with a total land cover of 625 hectares is among the largest tea plantation under the Kahawatta Plantations PLC owned by Dilmah. Under the proposed initiative, the tea lands at Endana will be reconverted into forests to bridge the Walankanda and Delwala Kanda Forest Reserve, thus allowing an increased mobility amongst the native plants and animals inhabiting these territories.

 

Professor Nimal Gunatilleke and Prof. Savithri Gunatilleke, who are providing their scientific expertise on the nature corridor project, explained that the reforestation will commence by establishing forest successions in a method known as relay floristics. Thus during the initial phase fast-growing species which can grow in infertile soil like Trema orientalis (gandumba), Macaranga peltata (kanda), Alstonia macrophylla (hawarinuga) must be planted to provide adequate shade and enrich the soil nutrients since the chances of survival for canopy endemic species in these regions is very poor. Following this light loving forest species found at the forest edge must be grown before canopy endemic species native to the lowland rainforests can be grown. 

 

The nature corridor linking Walankanda and Delwala Kanda will be the second biological corridor that will be created by Dilmah Conservation at Endana with the support of the Forest Department of Sri Lanka. Previously, Dilmah Conservation had been instrumental in establishing a biological corridor linking Pita Kanda and Walankanda regions where local communities helped in planting over 2,000 indigenous forest trees which are found in the wet zone of Sri Lanka. Both ventures by Dilmah Conservation are intended towards securing natural habitats and enhancing the biodiversity and conservation value of the tea estates which display unique ecosystems that change gradually in relation to the changing elevations.

 

 

 

Daily FT, 27th January 2018.

 

 

Russia loving Ceylon Tea again, wants renewed Sri Lanka trade

The Russian Federation revealed that its historic longing for Ceylon Tea has not wavered and even vowed for bigger trade with Sri Lanka, calling to despatch a strong delegation to the trade meet scheduled in Moscow this year.

 

“Yes, we imposed a ban on Ceylon Tea, but it was nothing to do with our asbestos but was only about an insect found in a tea package from Sri Lanka,” said an upbeat Ambassador of the Russian Federation Yury Materiy. Ambassador Materiy was meeting the Minister of Industry and Commerce of Sri Lanka Rishad Bathiudeen at his office in Colombo on 9 January. 

 

“If we connected Ceylon Tea exports issue with Sri Lankan imports of Russian asbestos as widely speculated, then our tea ban would have to continue even now, isn’t it?” asked Ambassador Materiy. “We are not speaking about asbestos in general but only about Russian Chrysotile which is not harmful. Lots of investigations have been done on it. Russian workers who have been working in the chrysotile industry for the last 30 years are doing fine – not one worker was reported to have had cancer in the last 30 years. There are many workers who handle chrysotile in the mines with bare hands, and they are fine. If you decide to import chrysotile from us, we will be very happy.”

 

Sri Lanka has been among the leading buyers of asbestos in the world. In 2015, the four leading asbestos importers in the world were India, Indonesia, China and Sri Lanka (buying from all asbestos exporting countries). Sri Lanka absorbed 6% of global asbestos imports in 2015. According to the Department of Commerce, ‘Iron and steel’, ‘wheat’ and ‘asbestos’ have been the three leading imports from Russia to Sri Lanka in recent years. Sri Lanka’s recent asbestos imports from Russia has been at low levels and has shown a declining trend – $ 33.87 million in 2014, $ 27.92 million in 2015 and $ 28.80 million in 2016. From January to August this year, Sri Lanka’s asbestos imports from Russia was only $ 13.57 million.

 

“We want to strengthen relations with Sri Lanka further. Bilateral trade between both countries is still low and it is time we expand our trade with diversified products. In this light, I am pleased to say that we shall look forward to Sri Lanka delegation’s arrival for Russia-Lanka Intergovernmental Commission meeting in Moscow later this year so that we can start bigger trade. We look forward to stronger bilateral cooperation with Sri Lanka including in our assistance. We in Russia like to support Sri Lanka in development cooperation in sectors of energy and agriculture.”

 

Sri Lanka’s total trade (both imports and exports) with the Russian Federation which was at $ 435.83 million in 2015 declined to $ 381.71 million in 2016. This year in the January to August period, it reported a total of $ 260.78 million.

 

Minister Bathiudeen warmly welcomed Ambassador Materiy’s invitation to strengthen trade between the two countries. “Russia and Sri Lanka have long-standing, friendly and cordial relations. I am pleased that Russian Federation has a greater vision of cooperation with Sri Lanka, beyond changes in temporary trade flows. We shall prepare a strong delegation to Moscow this year so that bigger trade can commence, and I shall instruct my officials to start work. Ceylon Tea exports are of high quality. I have been informed that that particular package in question was made of imported packing material and Sri Lankan packing material was not used in it. I believe our Gem and Jewellery export are attractive to Russian market and our exporters are eager to explore this potential. We thank Russian support to our development cooperation as well,” said Minister Bathiudeen.  

 

In 2015 Russia was the topmost buyer of Ceylon Tea at $ 156.65 million, and the second leading buyer was Turkey. However, in 2016, Russia became the second largest buyer of all types of Ceylon Teas (including green tea made in Sri Lanka) at $ 143 million – the leading buyer in 2016 was Iran, at $ 154.10 million. According to Minister Bathiudeen’s Department of Commerce, nearly 74% of Sri Lanka’s exports to Russia in 2016 was Ceylon Tea at a value of $ 143 million (while total exports to Russia in the same year was $ 182 million). Over the years, total tea exports to Russia have shown a declining trend – $ 240.32 million in 2013, $ 228.27 million in 2014, $ 156.65 million in 2015 and $ 142.55 million in 2016. Ceylon Tea exports to Russia from January to August this year totalled $ 114.18 million (83% of all types of Lankan exports to Russia from January to August 2017). 

 

Daily FT, 11th January 2018.

2017 tea crop rises for first time in four years

  • Last year tea production up only 5% against 2016 but lowest since 2009
  • Low growns up 7% but lowest since 2011
  • High grown tea crashes to lowest production since 1992

Tea production in 2017 was at 307 Mnkg, up only 5% when compared with the previous year’s drought-affected figure of 292 Mnkg, brokers said yesterday but recovering marginally from the seven year low hit in 2016.   

 

Production in December fell by 13.5 percent from a year earlier, the board’s data showed

 

Asia Siyaka Commodities Plc, quoting Tea Board data, said the 2017 figure of 307 Mnkg was the lowest since 2009 when total production crashed to 291 Mnkg. A collapse of the market in Q4 2008 following the global banking crisis and draft in 2009 restricted production.

 

“2017 crop losses were caused by a combination of circumstances; though the weather pattern did not settle after the previous year’s El-Nino condition. 

 

Normal agricultural practices were disrupted by the banning of the only cost-effective weedicide in the market and higher cost of fertiliser,” Asia Siyaka added.

 

“If weather holds, Sri Lanka could reach 320 million kilos (of production) in 2018.”

 

    Tea output in 2016 dropped 11.1%, in its third straight yearly decline. Tea export volume dropped to a 14-year low in 2016, broker data showed.

 

Export earnings fell 5.3% to $1.26 billion in 2016 from $1.33 billion in 2015. Sri Lanka recorded its highest earnings of $1.63 billion in 2014. 

 

Low Grown production of 197.1 Mnkg is up 7% on the low 2016 figure of 183.6 Mnkg. However, it is the first time since 2011 that production has dropped below 200 Mnkg.

 

The High Grown figure of 64.3 Mnkg is the lowest since 1992 when production crashed to 53.7 Mnkg following a severe drought. The quantity is even lower than the 2016 drought-affected figure of 64.4 Mnkg. Production from this elevation has been in the region of 73-75 Mnkg in the previous five years.

 

Mediums at 45.5 Mnkg are marginally ahead of the 2016 quantity of 44.5 Mnkg. Over the past five years production of the elevation has been in the region of 49-56 Mnkg.

 

Daily FT, 17th January 2018.

Pothotuwa Tea Factory establishes all time record price for BOPF grade

Pothotuwa Tea Factory, situated in Beralapanatara – Deniyaya, achieved an all time record price of Rs. 950 for a BOPF grade at the weekly tea auctions held on 6 December. This line of tea was marketed by Forbes & Walker Tea Brokers Ltd. Pothotuwa Tea factory was established in 1989 and is renowned as a manufacturer of high quality low grown teas. This establishment is owned and managed by Anil Alwis. 

 

Daily FT, 08th December 2017.

India’s Jan-Oct tea exports jump 6.6%

MUMBAI (Reuters): India’s tea exports in the first 10 months of 2017 jumped 6.6% from a year ago to 189.68 million kg as Iran and China purchased more, the state-run Tea Board said in a statement. Iran bought 20.98 million kg tea during the period, up from 18.67 million kg a year ago, the Board said.

 

India, the world’s second-biggest tea producer, exports CTC (crush-tear-curl) grade mainly to Egypt, Pakistan and the UK, and the orthodox variety to Iraq, Iran and Russia. 

 

Daily FT, 07th December 2017.

Dunsinane establishes yet another record

Dunsinane Estate established an all time record price of Rs. 660 per kg for a BPS grade in the western high grown CTC category, at the weekly tea auctions held on 29 November. This line of tea was purchased by M/s., Venture Teas Ltd. and marketed by M/s., Forbes & Walker Tea Brokers Ltd.

 

Interestingly Dunsinane also holds record prices for the PF1 grade at Rs. 780 and BP1 at 660 per kg.  Dunsinane is situated at an elevation of 1,400 metres above sea level at the Pundaluoya Valley in the Dimbula planting district. It is an ISO 22000:2005 and Rainforest alliance certified facility with an annual production capacity of over a million kilos of made tea per annum. This estate is managed by Asela Udumulla and comes under the purview of Elpitiya Plantations PLC.

Daily FT, 06th December 2017.

 

Ceylon Tea: Time to take the spots off the lion?


Re-creating the brand

 It has been made known that the Sri Lanka Tea Board is now finalising plans to embark on an ambitious international promotional program to promote the tea produced in our country. We have no information available yet of the campaign details but we assume that Ceylon Tea will be portrayed  as being superior to any tea in the same category originating from any other producing country. 

 

Presently, all tea produced in Sri Lanka which complies with basic minimum standards qualifies to be described and labelled as ‘Pure Ceylon Tea Packed in Sri Lanka’ and is entitled to use the Lion Logo – The Symbol of Quality, as commonly depicted on the packaging. The mark itself has undergone a few minor changes over time but the same ‘spotted’ Lion has been running for over half a century.

 

The Lion Logo presently in use

The mark widely registered in many countries is a stylised Lion upholding a sword (as in our National Flag) but having 17 spots as seen in the picture. This symbol was conceived when Ceylon Tea and its marketing activities were largely controlled and directed by London and I believe the 17 spots represent the 17 main markets in which Ceylon Tea was found to be thriving in at the time the symbol was conceived.

 

“Unusual, one might think, as lions are neither indigenous to, nor found roaming wild in the country. So, why the lion? And even more curiously why spotted? The answer is in legends that stretch back to the early centuries of Sri Lanka’s early history. Prince Vijaya, the first recorded King of Sri Lanka (543-503 BCE), was from India and believed to be the part lion on his maternal side. When he arrived in Sri Lanka he brought a flag featuring a lion denoting his lineage. The powerful king of beasts became the symbol of the newly formed kingdom of Tambapanni through to present day Sri Lanka, so named since its independence from British rule in 1948.” 

 

In all probability it is this symbol that would be used in promotion and advertising as the distinctive ‘mark’ to identity Ceylon Tea and to distinguish it from others in the proposed campaign.

 

In regard to the ‘spots’, ironically in the present day reality of how people perceive Ceylon Tea, the spots more fittingly impute and imply the taint and blemish that consumers discover in products marketed worldwide with the symbol of quality depicting pure Ceylon Tea.  

 

While we have less control over what happens to our tea outside our country, I question the wisdom of even permitting all the tea produced in our country to use the logo as the distinctive mark to identify the supremacy of Ceylon Tea. That would be an unsustainable claim for supremacy? 

 

Sadly, not all the tea produced in this country can find its place in that distinctive and special class we can justifiably promote and portray as being different and exceptional. It would be injurious to the preservation of the good name that Ceylon Tea still enjoys to label every tea grown and grade manufactured in Sri Lanka as supremely Ceylon Tea. It would be degrading and unfair to say the least, to the excellent teas that we do produce and to those who strive to excellence taking pride in what they deliver.

 

Is all tea grown in Sri Lanka today – ‘Ceylon Tea’?

 

So one does have to find a solution to protect the integrity of the brand we are trying to re-create and re-position. Continuing to sell all the tea we produce here as Ceylon Tea would be a mistake and only further grow the perception that Ceylon Tea is no longer what it used to be and continue to erode the brand image that Ceylon Tea labelled and sold as Pure Ceylon Tea once enjoyed by many. The growing suspicion that it is adulterated will have even wider acceptance. We know that in many markets, it is adulterated, and we have no control or power to effectively regulate those practices even within, let alone the practices we know take place without our shores.

 

Champagne

 

In a recent article written by a veteran in the industry and published in your newspaper reference was made to ‘Champagne’ as rigidly governed by the laws in force in France. I feel sure that it is not only the importation of equivalents and counterfeits that are prohibited but not all wines produced even in Champagne would pass the stringent controls imposed by the ‘Appellation Controlee’ of the region to be labelled as Champagne. The mere fact of where a tea or wine is grown does not by itself give it the right to be branded as supreme?

 

In the case of Ceylon Tea the wide variance in the characteristics of tea grown in the different districts and elevations and the significant percentage changes in the volumes produced in the Low Grown areas in the island in the last 50 years does not lend itself to the  case to establish one brand into the future to signify ‘all’.

 

The case I am building up to, is the need to create a new and distinctive mark or marks, to distinguish those teas (and only those teas) we Sri Lankans can really be proud of to market to the world as unique, supreme, unequalled and matchless.

 

The history of Ceylon Tea

It is useful for us to understand at this time the history behind the emergence of this claim to superiority and how it came about and I have been consistently digesting the material published in 1967, in the book titled ‘A hundred Years of Ceylon Tea’ by D.M. Forrest and would like to quote from excerpts, but only confined in this article to the pages of the book relating to the subject I am writing about.  The author who from 1945 served in the Empire Tea Bureau in the UK; as an ex journalist and war time official is  amply qualified to add credence to the facts as recorded and this is reinforced by the extensive research to which he refers to in the preface to the book. 

 

In fact, it is the Empire Tea Bureaux which evolved into the Ceylon Tea Centre and triggered of one country promotion. This I discovered was entirely due to fortuitous circumstances for Ceylon Tea and which gave eventually gave birth to Ceylon Tea Promotion.

 

Until that time, the slogans used to promote tea were generic campaigns – ‘tea as tea’ ‘join the tea set’, etc.  All the tea producing countries were contributing to a common fund to promote tea drinking focusing on Britain, the Irish Republic, The USA, Canada, Australia, New Zealand, the Middle East, Central and West Africa, South Africa, Netherlands, Switzerland, and Denmark.

 

By the middle of the last century, after World War II, The International Market Expansion Board had emerged from its long twilight of rationing and restrictions and in 1952 were all set with a big budget for the next year approved by all the producing countries. It was then that Indonesia first, soon followed by Pakistan announcing they could not afford to pay their share while India withdrew from the Board altogether saying they could promote Indian teas by themselves than by subscribing to a general fund. 

 

It was at this point of time that Sri Lanka (then Ceylon) being relatively much better positioned financially with large reserves following the Korean Boom and the prices fetched for rubber, decided it was the opportunity to advance and not a time for retreat and agreed to a full year’s contribution upfront! This decision by the other producing countries to withdraw was later a matter of regret to many of them we understand.

 

Supremacy of Ceylon Tea

This sequence of events led to the whole focus of tea promotion in UK and its allied countries concentrating on encouraging traders and consumers alike to demand Pure Ceylon Tea. So it is a fact, whether we like it or not, that we owe the creation and origins of the Ceylon Tea Brand to the British. Of course it must be said in the same breath that they were the biggest beneficiaries of this course of events as most of the marketing was entirely in their hands and used by brands owned by British companies and emerging multi nationals. The survivors of the International Tea Marketing Expansion Board evolved into propagandists for Ceylon Tea and eventually became the promotion agency for the Ceylon Tea Propaganda Board.

 

The consumer demand for pure Ceylon Tea grew and where a “pure Ceylon was not feasible,” blends with a high Ceylon content became increasingly popular particularly with the Trade. Interestingly, even those blends which had a percentage of teas of other origins were permitted to use the Lion Symbol.

 

In regard to the raging debate amongst tea men rapidly developing into a storm currently, I found the following paragraphs from the book of great relevance and I quote the author’s words;

 

“Many of us who have lived for years with this problem have come to believe that somehow tea has taken a wrong turn in the world’s mass markets. Admittedly, the sheer size of the latter (as Tommy Lipton discovered all those years ago) would make it impossible to provide everyone with a fine aromatic tea from the mountains or plains of

 

“Which leads to another question. ‘Is Ceylon Tea then so different’? The sceptic interposes. Not so different as chalk from cheese or, say Lapsang Souchong from a strong black Assam. If one had to draw a simple distinction between typical Ceylon Tea and nearly all its rivals, I suppose the firmest claim would be for superiority of flavour. Nobody knows just how this comes about, but the fact is that so much of it is grown on open hillsides near or above the 4000ft. mark, with the sun shining on them, and the wind blowing in from the sea must have something to do with it”…

 

The lion without spot or blemish

 

Ceylon Tea: Pure and supreme

The time is right perhaps to re-create the brand image of Pure Ceylon Tea and restore its rightful place to its former pristine place and glory. It would be best left to marketing and communication specialists how best this could be conceptualised, designed and achieved but in order not to lose the link it is suggested we remain with a Lion mark, but this time without spot or speckle and not boxed-in as before. The tea regulators and administrators would also have a responsibility in establishing Appellation Controls in the different districts as in France for wine where teas to qualify to use the description on the label only if it truly represents the character of tea in that district, e.g. Uva, Dimbula, Nuwara Eliya, etc.

 

Perhaps the spotted Lion may be continued as it already has been widely registered and would remain the symbol of quality for products packed in Sri Lanka but clearly distinguished from tea from Sri Lanka that we wish to re-present as being supreme. For want of a better yardstick only tea fetching over a weekly regulated bench mark (bar) will qualify to find its place amongst the tea described Ceylon Tea Pure and Supreme. Such a measure would also encourage producers (at least some of them) to strive for excellence in producing teas of the finest quality on the one hand attaining the ‘premium’ label and also give solace to those marketers of Pure Ceylon Tea whose aim is to offer only the best, generating value for the country. The focus for these premium players would be less on volume with the objective being declared as being the best and not the biggest.

 

To protect the integrity of the new mark, products which are required to be packed in Sri Lanka will have to develop a method of tamper proof sealing. Many of us in the trade know what happens to our 10 kg packs outside the country?

 

This new mark would necessarily entail an unavoidable degree of investment for global registration. Sri Lanka would soon have in place new intellectual property laws as a signatory to the Montreal Protocol. This would give faster and greater protection to the new mark in all member countries with a single application. 

 

Daily FT, 24th November 2017.

Bangladesh tea prices rise on winter demand


Dhaka (Reuters): Tea prices in Bangladesh rose 2.5% at the weekly auction due to strong winter demand, despite there being a higher volume on offer.

 

Bangladeshi tea fetched an average price of 240.35 taka ($2.80) per kg at the auction on Tuesday, compared with 234.43 taka at the previous sale, National Brokers said.

 

There was strong demand as buyers wanted to stock up for the winter season although supplies were larger than last week, a senior official with the National Brokers said.

 

Demand for tea in Bangladesh usually rises in winter.

 

Around 13.8% of the 2.36 million kg offered at the sole auction centre in Chittagong remained unsold. In the previous auction, 8.7% of the 2.36 million kg on offer was unsold.

 

Bangladesh’s tea production rose nearly 27% last year to a record 85 million kg, a harvest that was seen as big enough to make imports unnecessary.

 

The South Asian country was the world’s fifth-largest tea exporter in the 1990s but is now a net importer due to a surge in domestic consumption.

 

Daily FT, 24th November 2017.

 

Ceylon Tea Promotion at Royal Botanical Gardens, Ontario


Ceylon Tea was promoted at a ‘Tea Festival’ organised by the Royal Botanical Garden in Burlington, Ontario, in partnership with the Consulate General of Sri Lanka in Toronto and the Tea Association of Canada, held on 4-5 November at the Royal Botanical Garden in Burlington.

Ceylon Tea samples from the regions of Dimbula, Nuwara Eliya, Kandy, Uva, Uda Pussellawa, Ruhuna and Sabaragamuwa were displayed and hot tea from the above regions was served to all the visitors during the two-day event. Free Ceylon Tea samples, provided by the Sri Lanka Tea Board were distributed among almost 1,000 participants. Along with the Consulate General of Sri Lanka, 30 tea vendors and other private sector entities took part at the event. 

 

By participating at the event, the Consulate General was able to create wider awareness among the participants on Sri Lanka’s rich tea culture, health benefits, different flavours, processing techniques and presentation styles. 

 

A documentary on 150 years of Ceylon Tea was also screened at the event. Participants also had the opportunity to learn about history of tea including oolong tea and Tang dynasty tea, tea botany, modern tea cultivation, production practices, tea tasting, the art of pairing tea with chocolate, difference in Asian and Western ideas on tea as well as tea blogging. Sri Lankan and Chinese traditional dance performances also took place at the Festival. Sri Lankan traditional dance performed by Anudi Sirimanna of Rangara Performing Arts was among the highlights of the event. 

 

Daily FT, 13th November 2017.

 

Mahagastotte and Alma estates establish new records!


Mahagastotte and Alma estates surpass their own record prices and establish new record prices at the weekly tea auctions held on 31 October.

 

Mahagastotte Estate

Pedro Estate achieved an all-time record price of Rs. 980 per kg under the selling mark ‘Mahagastotte’ for a BOPF grade surpassing their previous record price of Rs. 900 per kg, in the Nuwara Eliya agro climatic planting district. This line of tea was purchased by M/s., Unilever Lipton Ceylon Ltd.


Alma Estate

Alma Estate bettered their previous record price of Rs. 750 per kg and established a new all-time record price of Rs. 780 per kg for a OP1 grade in the Udapussellawa elevational category. This invoice was purchased by M/s., Sinbad Ltd.

 

Alma Estate is situated in Kandapola, at an elevation of 1,450 metres above sea level and has a production capacity of 600,000 kg of made tea per annum. This estate is managed by Chula De Alwis and Ranjan Walpola of Nuwara Eliya Valley Plantations Ltd. as a joint venture with Mathurata Plantations PLC. 

 

The above record breaking teas were marketed by M/s., Forbes & Walker Tea Brokers Ltd.

 

Daily Ft, 06th November 2017.

 

 

About F&W

Forbes & Walker was set up in 1881 as a partnership between James Forbes and Chapmen Walker. Although there is no actual record of the date on which it was established the very first cash book, still in the possession of the Finance Director, indicates the brokerages were earned from 1st August 1881. In Sir Thomas Villiers' book “Mercantile Lore” the date of establishment of Forbes & Walker has been put down      Read More...

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