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Tea exports in August have increased by 16% to 25.48 million kilos and cumulative first eight months performance rose by 8% to 187.57 million according to Forbes and Walker Tea Brokers.
Value wise, exports in August was Rs. 23.3 billion, up 22.6% from Rs. 19 billion. Cumulative exports were worth Rs. 174 billion, up 16% as against Rs. 149.5 billion in 2020.
In July, tea exports dipped year-on-year (YOY) by 12% to $ 115 million (around Rs. 23 billion).
Forbes said in August, Bulk Tea and Packeted Tea categories had shown an increase, whilst Tea Bags had shown a marginal decrease when compared to the corresponding period of 2020.
It said the FOB value of Rs. 917.20 per kilo was an increase of Rs. 52.21 compared to a year ago.
“Although total Rupee FOB value has increased in 2021, in USD terms it reflects a decline of 0.09%,” Forbes said.
In the first eight months of 2021, all main categories of exports (Bulk Tea, Tea Bags and Packeted Tea) have shown an increase compared to the corresponding period of 2020.
FOB value of Rs. 927.21 per kilo records an increase of Rs. 68.96 compared to August last year. Total Rupee FOB value has increased substantially in 2021, while in USD terms it reflects a marginal increase of 0.07%.
Tea in bulk FOB value shows a marginal negative variance when compared to the corresponding period of 2020.
Forbes said Iraq had emerged at the No. 1 position as the major importer of Ceylon Tea, followed by Turkey and Russia, with the UAE moving up to the fourth position having increased imports significantly (203% YOY).
Iran, which has moved down to sixth position from the fourth position it occupied in 2020, records a fairly significant decrease (18% YOY) in imports during January-August 2021.
Other notable importers are China, Libya, Azerbaijan and Syria. Meanwhile, destinations such as Saudi Arabia and Chile have recorded a decrease in imports during the period under review. Forbes said imports to China and Libya had increased significantly YOY – 24% and 39% respectively.
