According to Forbes & Walker comments released on December 22, Sri Lanka tea production for the month of November 2020 totalled 24.8 M/kgs, showing an increase of 0.8 M/kgs vis-à-vis 24.0 M/kgs of November 2019.
Meanwhile, High and Mid Growns have shown a decrease, whilst Low Growns show a fairly significant increase compared to the corresponding month of 2019 and largely reflects a recovery after a drought induced decline in 2019.
January-November 2020 cumulative production totalled 249.9 M/kgs recording a deficit of 28.3 M/kgs vis-à-vis 278.2 M/kgs of January-November 2019. On a cumulative basis, all elevations have shown a decrease, with Low Growns showing the highest deficit.
CTC Cumulative production, January-November 2020 totalled 21.37 M/kgs, recording a 0.23 M/kgs deficit vis-à-vis 21.60 M/kgs of January-November 2019. On a cumulative basis, High Growns have recorded a fairly significant gain YOY, whilst Mediums show a marginal decrease. Low Growns, however, have recorded a fairly substantial decrease.
Tea Exports for the month of November 2020 totalled 20.2 M/kgs, showing a decrease of 1.7 M/kgs vis-à-vis 21.9 M/kgs of November 2019. When analysing the main categories of exports Bulk Tea shows a marginal growth, whilst Tea Bags and Packeted Tea have shown a decrease compared to the corresponding period of 2019. Total revenue of Rs. 17.77 B of November 2020 shows a marginal decrease compared to Rs. 18.29 B of November 2019. This has resulted in the FOB value of Rs. 879.01 (USD 4.78) of November 2020 showing a gain of Rs. 46.31 vis-à-vis Rs. 832.70 (USD 4.65) of November 2019.
January-November 2020 cumulative exports totalled 241.6 M/kgs showing a deficit of 27.3 M/kgs vis-à-vis 268.9 M/kgs of January-November 2019. Here again, all main categories of exports show a decrease compared to the corresponding period of 2019, with Packeted tea showing a fairly substantial decrease. Meanwhile, revenue too of Rs. 209.02 B has recorded a decrease of Rs. 12.43 B vis-à-vis Rs. 221.45 B of January-November 2019. Total FOB value, however, of Rs. 865.03 (USD 4.71) shows a gain of Rs. 41.52 when compared to Rs. 823.51 (USD 4.63) of January-November 2019.
Turkey has retained the No. 1 position followed by Iraq and Russia with Iran occupying the 4th position. Although Iran occupies the 4th position, a fairly substantial decrease in imports is recorded during January-November 2020 compared to the corresponding period of 2019. Other noteworthy importers are China, Azerbaijan and Chile. Meanwhile, destinations such as Libya, Japan, UAE and Syria have recorded a fairly significant decrease in imports during the period under review. Forbes & Walker said.