2022 brews highest-ever tea export earnings of Rs. 411 b; dollar value dips

Wednesday, 18 January 2023 01:18 - - {{hitsCtrl.values.hits}}

Sri Lanka’s Tea exports for 2022 earned a record Rs. 411 billion but posted a dip of $ 65.7 million as against previous year’s performance.

Sri Lanka Tea Board said export revenue for 2022 was $ 1.259 billion compared with $ 1.324 billion in 2021.

“Although the volume exported last year was only 250.2 million kilos, recording a 12.5% decline in comparison to 285.9 million kilos shipped in 2021, netting a revenue marginally less than 2021 shows the continued high demand for Ceylon Tea,” SLTB said.

The annual FOB unit price of $ 5.03 per kilo for 2022 compared with $ 4.63 per kg in 2021 confirms the distinct preference for Ceylon Tea.

Export quantity for last year was the lowest in 25 years. In 1997, a volume of 247 million kilos was shipped and since then the annual exports have been rising, recording the highest ever quantity of 327 million kilos in 2014.

Sri Lanka’s tea export volume is directly related to production. The 2022 production figures which are expected shortly will be one of the lowest in recent times. The harvest was affected due to many shortcomings experienced since 2021, the fertiliser crisis and the banning of herbicides being among the main contributory factors.