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Nation’s tea sales average dips in Oct. from previous month – Business News – dailymirror.lk



Last Updated : 2022-11-05 17:42:00
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Sat, 05 Nov 2022 Today’s Paper
5 November 2022 12:36 am – 0     – {{hitsCtrl.values.hits}}
The national tea sales average for the month of October 2022 declined from the previous month, recording Rs.1,483.65.

October’s sales average is a dip from the highest ever average for a calendar month of Rs.1,599.49 recorded in the month of September 2022. 

In comparison to the October 2021 average of Rs.607.38, the total average shows a significant increase of Rs.876.27 year-on-year (YoY), gaining 1.05 in US dollar terms as well.
“It would be noteworthy that in US dollar terms, the October 2022 average of US $ 4.10 records a decrease of US $ 0.36 when compared to the September 2022 average of US $ 4.46,” said Forbes and Walker Tea Brokers.

The analysis of the elevational averages for the month of October 2022 shows that the High Growns recorded the highest ever average for a calendar month with Rs.1,452.21. This is a marginal increase of Rs.4.07 month-on-month vis-à-vis Rs.1,448.14 of September 2022. When compared to the October 2021 average of Rs.587.45, a significant increase of Rs.864.76 is recorded YoY. In US dollar terms too records an increase of US $ 1.06. The Medium Grown average for the month of October 2022 totalling Rs.1,269.51 recorded a decrease of Rs.67.45 month-on-month vis-à-vis an all-time high Rs.1,336.96 of September 2022. When compared to the October 2021 average of Rs.530.40, it shows a significant increase of Rs.739.11 YoY, whilst in US dollar terms it records an increase of US $ 0.85.

The Low Grown average of Rs.1,554.86 in October 2022 records a decline from the previous best of Rs.1,706.02 recorded in September 2022. It records a decrease of Rs.151.16 month-on-month and a significant increase of Rs.919.90 YoY, with a gain of 1.10 in US dollar terms.

All elevations record significant gains during the period of January-October 2022 when compared to the corresponding period of 2021, both in Sri Lankan rupee and US dollar terms.  
 
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Joseph Muongi

Financial.co.ke was founded by Mr. Joseph Muongi Kamau. He holds a Master of Science in Finance, Bachelors of Science in Actuarial Science and a Certificate of proficiencty in insurance. He's also the lead financial consultant.