Tea sold at the Colombo Tea Auction during the 1st quarter of this year has recorded the highest ever national average, thus reaching a price of 393 rupees and 90 cents per kilogram.
Previous best was the figure achieved during last year which stood at 382 rupees and 90 cents. According to John Keells Tea Brokers, the rise in world tea consumption and sluggish tea production in tea manufacturing countries will help keep tea prices moderately high during this year. John Keells says consumption will increase in China and India with their large population and growing income levels. The increase consumption of these two countries which also produce tea, will result in their export quantities reducing thus increasing the demand for tea in the world market.