1Q tea exports in $ terms reach 6-year high of $ 354 m

Thursday, 18 April 2024 01:42 - - {{hitsCtrl.values.hits}}

First quarter tea exports in $ terms had hit a six year high of $ 354 million, Asia Siyaka Research said yesterday quoting data published by Sri Lanka Customs.

Sri Lanka shipped 62 Mnkg during the period January - March 2024, up 15% on last year’s figure of 54 Mnkg.

“Due to steady strengthening of the Sri Lankan Rupee against US$ YoY and lower auction prices, Rupee earnings show only a nominal change with an increase from Rs. 36 billion to Rs. 38 billion,” Asia Siyaka said.

“In USD however, the approximate value is $ 354 million was 13% more than the 2023 figure of

$ 314 million. This year’s Dollar earnings are the highest since 2018; however, the country exported 68.8 Mnkg in Q1 of that year compared with 62.3 Mnkg in 2024,” Asia Siyaka added,

It said Iraq topped the list of biggest buyers with a quantity of 8.4 Mnkg amounting to 14% of all shipments in 2024. The UAE follows with 7 Mnkg, up 56% on last year. Shipments to Russia have grown 14% YoY 6.4 Mnkg. Turkey follows but quantities have declined a sharp 40% to 4 Mnkg. Iran has increased 166% YoY from 1.3 Mnkg to 3.4 Mnkg this year. Saudi Arabia has increased 39% YoY 2.5 Mnkg and is followed by China up 8% to 2.4 Mnkg.

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.