* Sri Lanka tea production drops nearly 30 percent in October 2019, exports increase 10.7 percent
Nov 22, Colombo: Sri Lanka's Tea Production for October 2019has declined nearly 30 percent from a year ago, according to the market report by the Tea Exporters Association Sri Lanka while the export volume increased by 10.7 percent.
Tea Production for the month of October 2019 totaled 20.8 million kilograms (kgs) showing, a decrease of 8.9 million kgs from the 29.7 million kgs produced in October 2018.
All elevations have recorded a decrease Year-On-Year (YOY), with High and Low Grown elevations showing a fairly significant decline.
January-October 2019 production totaled 253.7 million kgs recording a marginal gain of 0.98 million kgs against the volume of 252.7 million kgs registered in January-October 2018 period.
On a cumulative basis, Mediums and Low Growns have shown a growth, whilst High Growns have shown a decrease YOY.
CTC production for the month of October 2019 of 1.9 million kgs shows a fairly substantial decrease of 0.84 million kgs vis-à-vis 2.8 million kgs of October 2018.
On a cumulative basis too, January-October 2019 production of 19.2 million kgs shows a decrease of 0.8 million kgs compared to 20.0 million kgs of January-October 2018.
On a cumulative basis, CTC High Growns and Medium Growns have shown a decrease, whilst Low Growns have remained static.
Meanwhile, Sri Lanka Tea Exports for the month of October 2019 totaled 25.8 million kgs showing a gain of 2.5 million kgs from 23.3 million kgs in October 2018. All main categories of exports (i.e. Tea bags, Packeted tea and Bulk tea) have shown a growth YOY.
January-October 2019 cumulative exports of 246.9 million kgs shows a gain of 11.3 million kgs compared to 235.6 million kgs of January-October 2018.
All categories of exports (i.e. Tea bags, Packeted tea and Bulk tea) have shown a growth YOY, whilst revenue for the period January-October 2019 of Rs. 203.1 billion records a gain of Rs. 10.7 billion from Rs. 192.4 billion for January-October 2018.
Consequently, the FOB value for the period January-October 2019 of Rs. 822.69 recorded a gain of Rs. 6.26 vis-�-vis Rs. 816.43 of January-October 2018.
Iraq has emerged as the No. 1 importer for the period under review followed by Turkey and Russia. Other noteworthy importers are Iran, Libya, China, Azerbaijan, Syria and UAE. Meanwhile, USA, India and Germany show a fairly significant growth in imports during the period under review when compared to the same period of the corresponding year.