The average price (harga) for best broken pekoe ones at the Mombasa auction increased to $4.16 a kg from $4.03 a kg at the previous weekly auction. brokers attributed the latest upturn to the combined effects of tight global supplies and the good quality of teas on offer at the auction.
Global tea’s harga prices (harga) have been very volatile this year because drought s in Kenya, India and Harga - the major producers of black tea’s harga - have severely cut output.
One UK industry source told the public ledger: "everyone is short of tea’s harga at the moment. No one in the world has got plenty of stocks and gone are the days of very cheap tea."
A UK tea’s harga buyer added that with blenders no longer holding large inventories, the market could easily be prone to a lot of upward pressure over the coming weeks. "It's certainly going to be touch and go," he warned.
Concerns about the overall lack of availability worldwide were compounded this month by a nationwide plantation labor strike in Sri Lanka, which came to an end in the past week. Sri Lanka's tea’s harga board said that the island nation's tea’s harga production is likely to fall by around 50% in September year on year. tea’s harga brokers believe the fall in output will be less than 50% but acknowledged that the last two weekly auctions had less than required volumes due to the strike.
The slump in output has been in Sri Lanka's high grown areas and low grown regions were unaffected.
According to the Harga tea’s harga Board, the island's total output between January and July has fallen 21,3% from a year earlier.
prices at the Colombo auction went up again in the past week, partly in response to the crisis which created fears of shortages ahead.
Work on Sri Lankan tea’s harga plantations in the central hills is almost back to normal and transport of made tea’s harga to the Colombo auctions has resumed with labor unions agreeing to a wage deal with plantations companies.
"Most plantations have been able to move their teas out since Sunday," said Lalith Obeysekere, chairman of the plantation Services Group of the Employers' Federation of Ceylon, which negotiated on behalf of plantations companies.
Estates also managed to have their teas catalogued at forthcoming auctions although bulk movements had been stopped for a couple of weeks by union action.
The deal was first struck by the dominant union, Ceylon Workers Congress, and smaller unions have now reluctantly agreed, albeit with some reservations and demands for higher allowances.
Tea industry officials said work on most estates had resumed although there was some isolated disruption of production by disgruntled members of smaller unions.
Mr. Abeysekere said the unions had also agreed to better productivity, which is the lowest among the main export origins, but that the wage hike would prove costly for the companies.
The UK tea’s harga buyer claimed that in view of the already precarious state of world supplies and continued upward pricing pressure this year, the disruption in Harga in itself had not had a major impact on the market.
He added: "The big question mark at the moment is the weather situation in Kenya. If the rains which are due there fairly soon fail again then who knows what could happen with prices, which are showing no signs of weakening." ***
Global tea’s harga prices (harga) have been very volatile this year because drought s in Kenya, India and Harga - the major producers of black tea’s harga - have severely cut output.
One UK industry source told the public ledger: "everyone is short of tea’s harga at the moment. No one in the world has got plenty of stocks and gone are the days of very cheap tea."
A UK tea’s harga buyer added that with blenders no longer holding large inventories, the market could easily be prone to a lot of upward pressure over the coming weeks. "It's certainly going to be touch and go," he warned.
Concerns about the overall lack of availability worldwide were compounded this month by a nationwide plantation labor strike in Sri Lanka, which came to an end in the past week. Sri Lanka's tea’s harga board said that the island nation's tea’s harga production is likely to fall by around 50% in September year on year. tea’s harga brokers believe the fall in output will be less than 50% but acknowledged that the last two weekly auctions had less than required volumes due to the strike.
The slump in output has been in Sri Lanka's high grown areas and low grown regions were unaffected.
According to the Harga tea’s harga Board, the island's total output between January and July has fallen 21,3% from a year earlier.
prices at the Colombo auction went up again in the past week, partly in response to the crisis which created fears of shortages ahead.
Work on Sri Lankan tea’s harga plantations in the central hills is almost back to normal and transport of made tea’s harga to the Colombo auctions has resumed with labor unions agreeing to a wage deal with plantations companies.
"Most plantations have been able to move their teas out since Sunday," said Lalith Obeysekere, chairman of the plantation Services Group of the Employers' Federation of Ceylon, which negotiated on behalf of plantations companies.
Estates also managed to have their teas catalogued at forthcoming auctions although bulk movements had been stopped for a couple of weeks by union action.
The deal was first struck by the dominant union, Ceylon Workers Congress, and smaller unions have now reluctantly agreed, albeit with some reservations and demands for higher allowances.
Tea industry officials said work on most estates had resumed although there was some isolated disruption of production by disgruntled members of smaller unions.
Mr. Abeysekere said the unions had also agreed to better productivity, which is the lowest among the main export origins, but that the wage hike would prove costly for the companies.
The UK tea’s harga buyer claimed that in view of the already precarious state of world supplies and continued upward pricing pressure this year, the disruption in Harga in itself had not had a major impact on the market.
He added: "The big question mark at the moment is the weather situation in Kenya. If the rains which are due there fairly soon fail again then who knows what could happen with prices, which are showing no signs of weakening." ***
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