Tea exports remain on the up in Oct. and first 10 months

Tuesday, 23 November 2021 03:10 - - {{hitsCtrl.values.hits}}

Tea exports in October have increased in volume and value from a year ago whilst the first 10 months’ performance reflected a sharp jump.

Tea exports in October amounted to 24.3 million kilos up by 5% from a year ago. In value, exports rose by 6% to Rs. 22 billion. In the first 10 months of this year, exports volume rose by 6.7% to 236 million kilos. Value wise, the performance was up by 13.6% to Rs. 217.3 billion.

Forbes and Walker Tea Brokers said in October all main categories of exports (Bulk Tea, Packeted Tea and Tea Bags) showed an increase from a year ago when compared to the corresponding period of 2020.

In the first 10 months all main categories of exports recorded an increase.

Forbes said Iraq has emerged as the No. 1 major importer of Ceylon Tea following an increase of 22% in January-October 2021. Turkey has moved down to the No. 2 position with a decline in imports (19% YoY) followed by Russia which has also declined (11% YoY).

The UAE has moved up to the fourth position, having increased imports significantly (185% YoY). Iran, which has moved down by a position to the fifth remains static in imports during January-October 2021. Other notable importers are China, Libya, Azerbaijan and Chile.

Forbes also said destinations such as Saudi Arabia, Germany and Chile had recorded a decrease in imports during the period under review. It is noteworthy that imports to China and Libya have increased significantly YoY by 10% and 43% respectively.