Tea Makes Rs. 104 Bn.

Tea export earnings in the first seven months of the year grew by Rs. 4.4 billion Year on Year (YoY) to Rs. 104.4 billion, Forbes & Walker (F&W) in a report said.
However the quantities exported in the review period declined by 7.8 million kilos YoY to 174.2 million kg. Category wise, tea in bags have shown a YoY growth, whilst tea in bulk and tea in packets have had shown a decline, F&W said.
According to F&W, the amount exported as ’tea in bags’ in the first seven months of the year was 14,394,943 kg. And the price fetched: Rs. 1,065.04 a kg. Tea in bulk: 70,925,592 kg.; price fetched: Rs. 529.23 a kg. and tea in packets: 85,137,187 kg. and price fetched: Rs. 551.33 a kg. However, according to F&W, the highest price fetched is in the export of green tea. The average price fetched by green tea in the first seven months of the year had been Rs. 1,313.11 a kg. But its export volumes in the commensurate period on a YoY basis have declined, from 2,913,319 kg. last year to 2,807,668 kg. at the present.
In other developments, earnings from tea exports in July increased by Rs. 2.8 billion YoY to Rs. 17.7 billion. Similarly volumes too increased by 3.3 million kg. YoY to 29.8 million kg. in the commensurate period.
The major markets for Sri Lanka tea were CIS occupying the number one position, followed by Iran, Turkey, Syria and UAE, F&W said. (PA)