Oct. tea exports up in value; crop improves

Monday, 26 November 2012 00:00 - - {{hitsCtrl.values.hits}}

The tea industry has had a favourable October with exports in value and crop improving, according to Forbes and Walker Tea Brokers.

Quoting Customs data, the broking firm said tea exports for the month of October 2012 totalled 25.4 million kilos vis-à-vis 28.05 million kilos of October 2011, showing a decrease of 2.5 million kilos.

Total revenue however of Rs. 14.9 billion for October 2012 shows a growth of Rs. 800 million vis-à-vis Rs. 14.1 billion of October 2011.

“Teas in bulk has shown a marginal increase, whilst teas in packets and teas in bags show a decrease compared to the corresponding month of 2011,” Forbes said.

Cumulative exports for the period January-October 2012 of 261.2 million kilos too shows a decrease of four million kilos vis-à-vis 265.2 million kilos of 2011.

Total revenue realised, however, was Rs. 146.2 billion, up by Rs. 10.5 billion vis-à-vis Rs. 135.7 billion in 2011. Tea in packets have shown growth YoY, whilst tea bulk/bags show a decrease YoY.

CIS has retained the No. 1 position as the largest importer of Sri Lankan tea, followed by Iran and Syria. Other noteworthy importers are Iraq and Turkey, whilst Libya and Japan too have shown a significant growth in imports YoY.

Tea production for October meanwhile totalled 26.6 million kilos vis-à-vis 24.8 million kilos of 2011, showing an increase of 1.79 million kilos. High growns and Low growns have shown a growth of 0.42 million kilos and 1.47 million kilos respectively. Medium growns have declined 0.42 million kilos in comparison to the corresponding month of 2011.

Cumulative production for the period of January-October 2012 of 268.7 million kilos, shows a decline of 1.28 million kilos vis-à-vis 270 million kilos of 2011. Low growns have shown a growth YoY, whilst medium growns have shown a marginal decline. High growns however, have shown a sizable decline YoY.

CTC production for the month of October, of 2.1 million kilos shows a gain of 0.42 million kilos vis-à-vis 1.6 million kilos of 2011. All elevations have shown a growth YoY whilst low growns being the main contributor.

The January-October cumulative production of 18.7 million kilos, however, reflects a marginal deficit of a 0.1 million kilos over the crop in the first 10 months of last year.