Tea export earnings fell by 6.22 per cent (Rs 11.9 billion) to Rs 191. 2 billion in the first 10 months of the year, year-on-year (YoY), Forbes and Walker Tea Brokers said on Wednesday (18 November).
Commensurate with these developments, tea export volumes declined by 10.33 per cent (25.5 million kilos) to 221. 4 million kg in the review period. Complementing these features, tea production in the first 10 months of the year decreased by 11.61per cent (29.5 million kg) YoY to 224.7 million kg.
However, in a favourable turn of events, export prices, both in US dollar and rupee terms gained in the review period. Export prices in dollar terms gained by 1.51 per cent (US cents seven) to US$ 4.70 a kg in the review period, while in rupee terms this gain was 4.99 per cent (Rs 41.06) to Rs 863.75 a kg, respectively.
Meanwhile, the top 25 importers of Sri Lanka tea in volume terms descending order in the review period were Turkey, Iraq, Russia, Iran, China, Azerbaijan, Chile, Syria, Libya, UAE, Germany, Saudi Arabia, USA, Japan, Ukraine, Jordan, Taiwan, Hong Kong, Netherlands, Poland, Egypt, Lebanon, Belgium, Israel and Ireland.
Tea, according to the Central Bank of Sri Lanka was the island’s fourth largest foreign exchange earner last year.