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Plantation companies in crisis

Plantation companies in crisis Featured

26 April 2015
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Nineteen plantation companies incurred a combined loss of Rs. 2,850 million in the 2014 financial year due to low tea and rubber prices and an increase in production costs, reports say.

These companies had sold a kilo of tea at a loss of Rs. 30 at Rs. 425, after a production cost of around Rs. 455 per kilo.

The cost of production per kilo of rubber is Rs. 327, but a kilo of rubber can be sold at around Rs. 292.

At the February 2015 Colombo tea auction, the average price stood at Rs. 418 per kilo, less than the Rs. 482 in January 2014 and Rs. 423 in January 2013.

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