Sunday Dec 22, 2024
Sunday Dec 22, 2024
Friday, 25 November 2022 00:20 - - {{hitsCtrl.values.hits}}
From left: Sri Lanka Tea Board/Tea Commissioner E.A.J.K. Edirisinghe, Sri Lanka Tea Board Chairman Niraj de Mel, Sri Lanka Tea Board Director General Anura Siriwardena and Sri Lanka Tea Board Director Promotion Pavithri Peiris – Pic by Lasantha Kumara
By Darshana Abayasingha
The Sri Lanka Tea Board yesterday expressed confidence in achieving a crop of 290 million kilograms in in 2023 with revenues of up to $ 1.4 billion.
During last month’s tea auction, Sri Lanka recorded its highest FOB price of $ 5.72 per kilogram. With fertiliser made available to RPCs and smallholders, the Tea Board expects sales to catch up and shore up external finances.
In 2013, Sri Lanka had recorded 340 million kilograms which was the highest ever, but the numbers have not crossed the 300 mark since. During the first 10 months of this year, there is a 18.3% reduction or 40 million kilograms versus 2001. However, there is only a 9.5% reduction in exports due to a high carryover from last year and 211 million kilograms have already been shipped.
Tea Board Chairman Niraj De Mel told a media briefing that 2022 has been a challenging year but over 46 auctions have already been held this year, but on average there is a drop of 1 to 1.1.5 million kilograms from the average weekly offering this year, which impacts the front-end. Buyers of Ceylon Tea have been clamouring to buy the stocks on offer and this demand has driven prices up, he added.
There are over 500,0000 smallholders in the country who have benefited immensely from new rates, which have risen to almost Rs. 300 a kilogram from the previous price of Rs. 90. Over three million labourers are employed through smallholder plantations.
De Mel urged planters to enhance productivity and increase yields to up over 600 kg an acre, which would help boost national volumes. He remarked there is demand for Ceylon Tea from its traditional buyers and a new global campaign would be launched from January 2023 to reach out to new markets. A sum of $ 1.5 million has been allocated for the promotion.
The Tea Board requested producers to improve yield and conduct plucks on a weekly basis in order to improve the quality of the leaf and sustainability of the tea bush.
