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Sri Lanka crisis

Sri Lanka tea prices dip 40% from record high on production rebound

Fertilizer imports spur supply recovery, buoying crucial export revenue

Tea exports are a major source of foreign currency for Sri Lanka.   © Reuters

TOKYO -- Sri Lankan tea prices that had been piping hot have cooled off as production in the world's fourth-largest tea grower begins to recover.

The benchmark weekly average price on the Colombo Tea Auction came to around 965 Sri Lankan rupees ($3.12) per kilogram in mid-June, the lowest in about 15 months. Prices are also about 40% below the all-time high reached in September.

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