Roller Coaster Ride for Sri Lanka Tea Industry An Objective Analysis
By Lalith Hettiarachchi, Chairman, Sri Lanka Tea Board
The Sri Lanka tea sector has been enjoying increased prices across the board for all teas from January 2007 up to July 2008, a period of almost 18 months.
This was due to several reasons, both global and local. Among the important reasons are (a) drop in production in some competing countries due either to political and/or adverse weather conditions, (b) increased buying power, especially in the Middle East and Russia/CIS regions due to oil price escalations, (c) promotional efforts of the sector especially highlighting health benefits of tea, (d) tea being preferred as a beverage as against other beverages at least by a higher percentage among the younger generation, and (e) value additions made by the industrialists.Last Updated on Wednesday, 09 September 2009 08:10