Tea exports top $ 1.5 b target in 2013

Friday, 17 January 2014 06:14 - - {{hitsCtrl.values.hits}}

Sri Lanka has succeeded in exceeding the target of $ 1.5 billion in tea exports in 2013. According to Sri Lanka Customs data analysed by Siyaka Research, tea exports in 2013 at 319 Mkg equalled the 2012 total. The Rupee value of exports however jumped 11% from Rs. 180 billion in 2012 to a record Rs. 199 billion in 2013. “The approximate US Dollar value of exports of these earnings is a highest ever $ 1.558 billion. The previous record was the revised figure of $ 1.490 billion released by the Sri

Lanka Tea Board in 2011,” Asiya Siyaka Commodities Plc said. It said export earnings convert to an approximate FOB value per kg of Rs. 623.91, well above the 2012 record of 563.94 per kg. The USD figure too is a record $ 4.87 against $ 4.40 in 2012 and $ 4.62 in 2011. Since 2009 Sri Lankan tea export’s average FOB value per kg has been over USD $ 4 figure. A review of the exports that make up exports shows tea in bulk amounting to 129.8 Mkg or 41% of the total. Tea in packets at 156.9 Mkg is 49%. Tea bags export quantity of 25.7 Mkg is 8% and 5.2 Mkg of green tea amounting to 2% was exported. Instant was 1.9 Mkg. Total value added exports therefore (total less bulk) amounts to 59% of all exports. Russia/CIS remained the prime region for Sri Lanka tea exports with absorption of 70.5 Mkg (22%) of all teas shipped. In 2012 however the quantity was 75 Mkg, (23%). In 2011 however the figure was a high 83.6 Mkg (26%). Direct exports to Iran have slipped from 41 Mkg in 2012 to 39.6 Mkg in 2013. “Turkey has grown as an important transit point and handled the highest-ever volume of 32 Mkg. This is equal to 10% of all exports in 2013. This destination handled only 23 Mkg the year before recording a 39% YoY growth,” Asia Siyaka said.

Iraq follows with a volume of 22 Mkg. Exports to Syria have declined (15%) to 21 Mkg from 24.7 Mkg the year before. In 2010 and 2011 however Syria imported 28 Mkg of Ceylon Tea. UAE has grown its status as a regional hub once again with quantities increasing from 11.8 Mkg in 2012 to 18 Mkg in 2013. In 2010 however 31 Mkg of tea was shipped through this destination. Kuwait has expanded its re-export volumes and Sri Lanka tea shipments to this destination have grown dramatically from seven Mkg to 16 Mkg in 2013. Japan is the most important buyer of quality high grown teas. However, exports to this important market have been sliding in 2013. Total exports dropped to 8.9 Mkg down (8%) from 9.7 Mkg the year before. In fact in 2011 Japan imported 11.6 Mkg and in 2010, 11.3 Mkg. “This is an important market that needs much attention to arrest this trend,” Asia Siyaka emphasised. Jordan followed with reduced imports of 7.6 Mkg compared with 9.4 Mkg the year before. Chile, Sri Lanka’s only real market for Ceylon teas in South America, has grown its volumes 4% from 6.5 Mkg in 2012 to 6.8 Mkg in 2013. Germany, an important terminal and re-export market, has increased imports to 6.6 Mkg in 2013 from 5.9 Mkg the year before. Exports to Libya have crashed from 16.5 Mkg in 2012 to 6.6 Mkg in 2013. Overall these markets absorbed around 80% of Sri Lanka’s total tea export volume of 319 Mkg in 2013, Asia Siyaka Commodities said.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.