Tea exports continue to plunge in September

Thursday, 22 October 2015 00:00 - - {{hitsCtrl.values.hits}}

The total quantity of tea exported for the month of September 2015 including re-exports with imported tea amounted to 24.63 Mn/kg, showing a decline of 7.69% compared to the same period 2014.

The FOB price recorded for the month of September was Rs. 599.50 per kilo as against Rs. 652.43 for the same period last year.

Cumulative exports for the period January to September 2015 including re-exports with imported tea amounted to 226.10 Mn/Kg, showing a decline of 6.33% to 15.28 Mn/Kg compared to the same period in 2014.

FOB price per Kg recorded was declined by 9.4% to Rs. 595.95 compared to the same period last year.

Country wise analysis of exports shows that the Russia continues as the largest tea export destination from Sri Lanka followed by Turkey and Iraq.

Iraq showed an increase in import volume YOY of 5.57 Mn/Kg along with U.A.E (A Tea Trading hub) +4.21 Mn/Kg YOY. New markets China and India have improved the volume of imports from Sri Lanka YOY with Pakistan importing substantially a higher volume than the corresponding period last year, a good sign for the Sri Lanka tea industry where it was once the number one tea exporter.