ECONOMYNEXT – Sri Lankan tea exports fell nine percent to 26.3 million kilos in November 2015 from a year ago with shipments so far this year the lowest in three years, brokers said.
Although bulk tea exports grew, shipments of packeted tea and tea bags which fetch higher prices fell during the month.
Total revenue fell 2.6 billion rupees to 15.4 billion rupees in November 2015 from the year before, Forbes & Walker Tea Brokers said.
Russia followed by Turkey and Iraq were the largest importers of Sri Lankan tea in the January – November 2015 period with Iran and UAE the other noteworthy importers.
Brokers Asia Siyaka Commodities said tea exports in the eleven months to November 2015 were down five percent to 281.5 million kilos from the year before, the lowest since 2012, when 288 million kilos were shipped during the same period.
“Sri Lanka earned 166.9 billion rupees for the January - November 2015 period, down a sharp 14 percent on last year’s earnings,” they said in a report.
The approximate US dollar value of exports for the period was 1.23 billion dollars, the lowest since 2009, Asia Siyaka Commodities said.
“In that year the international banking crisis and drought restricted supply and total exports for the year was a low 289 million kilos.”
In 2014, the approximate US dollar value of exports for the January - November periodwas 1.49 billion and the country went on to earn a record 1.63 billion dollars during the year, the brokers said.
They projected total tea export earnings for the 12 months ending December 2015 at 1.3 billion dollars.
Although bulk tea exports grew, shipments of packeted tea and tea bags which fetch higher prices fell during the month.
Total revenue fell 2.6 billion rupees to 15.4 billion rupees in November 2015 from the year before, Forbes & Walker Tea Brokers said.
Russia followed by Turkey and Iraq were the largest importers of Sri Lankan tea in the January – November 2015 period with Iran and UAE the other noteworthy importers.
Brokers Asia Siyaka Commodities said tea exports in the eleven months to November 2015 were down five percent to 281.5 million kilos from the year before, the lowest since 2012, when 288 million kilos were shipped during the same period.
“Sri Lanka earned 166.9 billion rupees for the January - November 2015 period, down a sharp 14 percent on last year’s earnings,” they said in a report.
The approximate US dollar value of exports for the period was 1.23 billion dollars, the lowest since 2009, Asia Siyaka Commodities said.
“In that year the international banking crisis and drought restricted supply and total exports for the year was a low 289 million kilos.”
In 2014, the approximate US dollar value of exports for the January - November periodwas 1.49 billion and the country went on to earn a record 1.63 billion dollars during the year, the brokers said.
They projected total tea export earnings for the 12 months ending December 2015 at 1.3 billion dollars.
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