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ECONOMYNEXT – Sri Lanka’s tea export revenues grew 1.8 percent in September 2023 to 119.9 million US dollars, amid a rise in volume and fall in the average price, industry data showed.
Tea exports grew to 23.16 million kilograms in September from 21.54 million last year, data from Ceylon Tea Brokers showed.
Though exports volumes were up in September, tea production was down in the month.
Up to September total export volumes were down to 181 million kilos from 192 million kilos last year.
Adverse weather and lower fertilization by low grown smallholders were affecting production, industry officials said.
The average dollar value of exported fell from 5.47 US dollars to 5.18 dollar a kilogram.
The US Fed has tightened monetary policy from last year which tends to deflate the price of global commodities.
Highest prices are fetched by low grown teas which are exported to the Middle East and Central Asia.
From January to September 2023, Iraq was the top buyer with 25.83 million kilograms down 9.5 percent from last year, Turkey was up at 23.05 million kilos, Russia was 0.6 percent down at 17.7 million kilos and UAE was 13.1 million kilos down 3.52 percent.
Bulk tea exports in September fell to 9.5 million kilos from 9.86, tea in packets rose to 11.1 million kilos from 9.2 million and tea in bags rose to 2.0 million from 1.65 million kilos. (Colombo/Oct22/2023)
Source: www.economynext.com/sri-lanka-tea-export-revenues-up-1-8-pct-in-september-136350/
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