Wednesday Nov 27, 2024
Wednesday Nov 27, 2024
Friday, 1 February 2013 00:01 - - {{hitsCtrl.values.hits}}
Total quantity of tea exported for 2012 excluding re-exports with imported tea amounted to 306.04 mn/kg, a marginal increase of 2.88 mn/kg (+0.95%) when compared with 2011.
However, with the increase in the FOB price per kg from Rs. 500.64 to Rs. 552.26 total export value for the period records a noteworthy increase of Rs. 17.24 billion (+11.36%) as against the same period last year.
Category wise analysis shows that tea in bulk and tea in packets have increased in 2012 when compared to 2011. Despite the decline in volume of tea bags exported, the total earnings have increased due to a fairly sharp increase in the FOB price per kg from Rs. 912.47 to Rs. 1,084.01. Similarly FOB values of instant tea and green tea have increased in 2012 when compared to the previous year. Total quantity of tea exported for 2012 including re-exports with imported tea amounted to 319.95 mn/kg, lower than the 322.56 mn/kg in 2011 (-0.81%). Nevertheless, with the increase in FOB price per kg from Rs. 511.08 to Rs. 563.94 total export earnings in 2012 amounted to Rs. 180.43 billion, a significant increase of Rs. 15.58 billion (+9.45%) as against the same period last year. Based on the weighted average rupee value for US$ 1 in 2012 of Rs. 127.60 against Rs. 110.57 in 2011 as obtained from the website of the Central Bank of Sri Lanka, equivalent US$ export earnings in 2012 amounted to approximately US$ 1.41 billion as against 1.49 Billion in 2011 a decline of approximately US$ 77.02 million.
In summary, although the volume of total exports of 2012 including re-exports with imported tea has recorded a decline compared with 2011, export earnings in rupee terms in 2012 is an all-time high.
However, export earnings expressed in the dollar equivalent in 2012 is slightly lower than the corresponding figure for 2011. It is there for apparent that the increased rupee earnings were due to the depreciation of the Sri Lanka Rupee against the US Dollar in 2012 compared with 2011.
It is also worth noting that the volume and rupee value of re-exports with imported tea in 2012 is less than 2011 although tea exports from Sri Lanka excluding this category is higher both in quantity and rupee value in 2012 against 2011.
Country wise analysis of exports shows that the CIS countries (including Russia) continues as the largest export destination from Sri Lanka. Iran, Syria, Iraq and Turkey follow in that order in 2012. Significantly the UAE with exports of 22.53 mn/kg in 2011 has dropped to 11.89 mn/kg in 2012. On the other hand Iran and Libya have recorded increases of 8.94 and 9.09 mn/kg respectively in 2012 compared with 2011. Tea exports to Ukraine, Japan, Syria and Russia declined by (-20.73%), (-17.56%), (-14.27%) and (-8.96%) respectively.
