July tea exports higher versus June, down year-on-year

Thursday, 25 August 2011 00:35 - - {{hitsCtrl.values.hits}}

The country’s tea exports in July were higher as against June, but lower year on year providing a mixed bag for the industry, which is also suffering from a downturn in crop.

Forbes and Walker Tea Brokers quoting Customs data said yesterday that tea exports in July totalled 29.05 million kilos, up marginally by 0.25 million kilos as against July last year. In value terms export revenue amounted to Rs. 13.9 billion in July, up by Rs. 300 million over a year ago.

In June export volume amounted to 25.5 million kilos, down 2.4 million kilos over the same month of last year whilst value was Rs. 12.6 billion, down by Rs. 1 billion as against Rs. 13.6 billion in June 2010.

Cumulative exports for the first seven months of this year amounted to 178.7 million kilos, up by 6.6 million kilos or 4%. Value of exports was Rs. 91.6 billion, up by Rs. 6.6 billion or 7.7%.

In the first half growth in volume was 4.4% and value wise it was 8.8%.

In July, Forbes said the largest importer of Sri Lankan tea was the CIS followed by Iran and Syria. Other noteworthy importers are UAE, Turkey, Iraq and Japan.

In the first seven months tea in packets have shown a growth YoY, whilst tea in bulk have remained static. Here again tea in bags has shown a decline YoY.

In July tea in bulk has shown a significant increase whilst tea in packets together with tea in bags have shown a decline YoY.