Significant hike in January- March 2021 tea revenue; weakening of rupee against dollar seen as factor-By Steve A. Morrell Source:Island Forbes and Walker in their weekly Tea Market Report said tea revenue, January to March 2021, showed a significant increase in revenue over the same period last year. The end figure as indicated was Rs. 65.62 billion. The report said 2020 tea revenue for the same period was Rs. 49.23 billion, the difference in revenue being Rs. 16. 38 billion. The weakening of the rupee against the dollar was given as one reason for the buoyancy of the market. Disruptions in the Kenyan tea auctions constituted another reason. ...
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Bad news for tea industry as auction prices slide Source:Island Brokers reported last week that the drop in tea prices was bad news for the industry, which was doing reasonably well in recent months. Forbes and Walker said in their weekly tea market report that after ten months of buoyant prices, last week’s auction prices declined by Rs. 20 to 30 per kilo. ...
