Mixed bag for tea exports in September

Friday, 16 October 2020 03:50 - - {{hitsCtrl.values.hits}}

Export volume dip in Sept. but up first 9 months
Earnings up in Sept. but lag in YTD figure

Tea industry has witnessed a mixed performance in September with exports up value wise but volume basis recording lower performance compared to a year earlier.

According to Forbes and Walker Tea Brokers, tea exports in September totalled 24.1 million kilos lower by 1.5 million kilos from a year earlier.

Total revenue, however, of Rs. 21.09 billion is higher by Rs. 0.9 billion from September 2019.

Mixed bag...

Volume wise too in the first nine months, exports were down by 22.8 million kilos to 198.2 million kilos.

Total revenue for the first nine months was down sharply by Rs. 12 billion to Rs. 170.5 billion.

In September tea in bags, tea in packets together with bulk tea exports have shown a decrease vis-à-vis the corresponding month of 2019.

The FOB value of Rs. 873.27 ($4.76) reflects a gain of Rs. 88.87 vis-à-vis Rs. 784.40 ($4.35) of September 2019.

All main categories of exports (i.e. Tea Bags, Packeted tea and Bulk tea) have shown a decrease in the first nine months.

However, Forbes said the FOB value of Rs. 860.08 ($ 4.68) was up Rs. 34.59 vis-à-vis Rs. 825.49 ($4.65) of January-September 2019, thereby showing a growth in SLR and USD terms.

It said Turkey has emerged as the No. 1 importer of Sri Lankan tea followed by Iraq and Russia. Iran, China, Azerbaijan and Chile in particular are some of the other noteworthy importers of Sri Lankan tea.

Exports to Saudi Arabia and Ukraine too have shown a growth during the period under review. Exports to Libya, Syria and UAE, however, have shown a decrease compared to the corresponding period of 2019.

Poor crop boosts year on year NSA in Sept. by Rs. 108 per kilo