Sri Lanka’s tea have been sold at the highest price ever across all elevations in September 2022 selling at an average of 1,599.49 rupees per kilogram compared to 557.38 rupees in the same period the previous year, as the currency collapsed steeply following mistargeted interest rates while the global tea prices shot up.
September prices surpassed the previous record price reported in August 2022 of 1,508.21 (USD 4.18).
In dollar terms, the average sale price for Sri Lankan tea had been 4.41 dollars per kilogram
Elevation-wise, the low-priced High Growns had been sold at an average of 1,448.14 rupees against 557.38 rupees
(an increase of 890.76)compared to last year, Ceylon Tea brokers’ data showed.
In Sri Lanka Mercantilists and soft-peggers usually claim that inflation comes from imported prices. However, prices of all traded goods, whether imported or exported go up when the central bank prints money to depreciate the currency.-EconomyNext (NewsNow)
