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Crisis in the Middle East jolts tea industry – Minister

Aug 24, 2011 3:04:32 PM - www.ft.lk

Plantation Minister Mahinda Samarasinghe told Parliament yesterday that the current crisis in the Middle East has had an adverse impact on the country’s tea industry.
According to the Minister, the crisis in Syria, Libya and the economic sanctions on Iran has had a negative impact on Sri Lanka’s tea exports. However, Samarasinghe has added that tea prices were quite high even under these circumstances.

Responding to a question  posed by Parliamentarian Ravi Karunanayake on the country’s tea industry, Samarasinghe has told Parliament that the cost of production had increased due to the wage component.
He has said that measures would be taken to reduce the overall cost in order to retain the country’s international market share amid a competitive atmosphere.
Meanwhile, Sri Lanka Tea Board data showed that tea production in the month of July fell 16 per cent to 24,195,142 kg from 28,796,240 kg produced in June.

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