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The tea industry is sustaining the refreshing start in 2021 with February fetching the highest-ever FOB value of Rs. 940.09 per kilo, Forbes and Walker Tea Brokers said.
Total export revenue in February amounted to Rs. 21.78 billion, up by Rs. 2.21 billion resulting in a FOB value of Rs. 940.09 ($ 4.87) per kilo.
“This is the highest ever FOB value surpassing the previous highest of Rs. 923.99 ($4.87) recorded in January 2021,” Forbes said. When compared to Rs. 827.38 ($4.60) of February 2020, the current year’s achievement reflects an increase of Rs. 112.71 per kilo.
Volume wise, tea exports in February amounted to 23.16 M/kgs, down by 0.49 million kilos from a year earlier. Main categories of exports, bulk tea and tea bags showed a marginal growth, whilst packeted tea has shown a decrease compared to the corresponding period of 2020.
Forbes said January-February 2021 cumulative exports totalled 43.99 million kilos showing a deficit of 1.76 million kilos from the corresponding period of last year. Main categories of exports, bulk tea and tea bags show a marginal growth, whilst packeted tea has shown a fairly significant decrease (2.82 million kilos).
Revenue in the first two months of 2021 amounted to Rs. 41.02 billion up by Rs. 3.36 billion from a year earlier. Total FOB value Rs. 932.47 per kilo ($ 4.87) shows a gain of Rs. 109.21 when compared to the corresponding period of 2020.
Turkey has retained the No. 1 position 6.54 million kilos as against 6.2 million kilos last year followed by Russia and Iraq with China occupying the 4th position with significant improvements in imports compared to the corresponding period of 2020.
Iran, which has moved down to ninth position from the fourth position it occupied in 2020, records a fairly substantial decrease in imports during January-February 2021, Forbes and Walker Tea Brokers said.
“Other noteworthy importers are the UAE, Azerbaijan, Syria and Libya. Meanwhile, destinations such as Saudi Arabia, Chile and the USA have recorded a fairly significant decrease in imports during the period under review,” it added.
