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Sri Lankan tea prices that had been piping hot have cooled off as production in the world’s fourth-largest tea grower begins to recover.The post Sri Lanka tea prices dip 40% from record high on production rebound appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka is set to start bartering tea to Iran next month in lieu of $250 million owed for oil, a Sri Lankan official told Reuters on Friday, as the crisis-hit country tries to lift sales to a key market and protect its forex reserves.
Earnings from Sri Lanka’s tea exports contracted 5 percent Year-on-Year (YoY) or by US$ 65.7 million to US$ 1.259 billion in 2022 due to reduced quantities shipped to importing markets.The post Tea export earnings down 5% in dollar terms, but hit record-high in rupee terms amid sharp depreciation appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post Budget Woes; How Soon Will Titanic Touch The Bottom? appeared first on Colombo Telegraph.
In dollar terms, the average sale price for Sri Lankan tea had been 4.41 dollars per kilogram
The sharp increase in lending rates is a major cost to the industry
July prices surpassed the previous record price reported in April 2022 of 1,333.61 (USD 4.14).
Promises inputs amid soft-peg crisis
Tea farmers would be able to import fertilizer and inputs
Regional plantation companies and smallholders are harvesting green leaf and arranging deliveries
[…] The post “Tea Is The Most Affordable Luxury,” Says The Sri Lanka Tea Board. How So? On Whose Toil? appeared first on Colombo Telegraph.
[…] The post “Tea Is The Most Affordable Luxury,” Says The Sri Lanka Tea Board. How So? On Whose Toil? appeared first on Colombo Telegraph.
[…] The post “Tea Is The Most Affordable Luxury,” Says The Sri Lanka Tea Board. How So? On Whose Toil? appeared first on Colombo Telegraph.
[…] The post “Tea Is The Most Affordable Luxury,” Says The Sri Lanka Tea Board. How So? On Whose Toil? appeared first on Colombo Telegraph.
[…] The post “Tea Is The Most Affordable Luxury,” Says The Sri Lanka Tea Board. How So? On Whose Toil? appeared first on Colombo Telegraph.
[…] The post “Tea Is The Most Affordable Luxury,” Says The Sri Lanka Tea Board. How So? On Whose Toil? appeared first on Colombo Telegraph.
[…] The post “Tea Is The Most Affordable Luxury,” Says The Sri Lanka Tea Board. How So? On Whose Toil? appeared first on Colombo Telegraph.
Ballooning trade gap Even with the multitude of measures taken to curb imports, Sri Lanka's cumulative trade deficit widened to nearly US$ 1.7 billion in the first two months of the year with earnings from exports increasing marginally by 3.3 per cent to US$ 1.8 billion whilst import expenditure shooting by 24.7 per cent to ...
By Cheranka Mendis The volatility in Middle Eastern markets, coupled with the increasing issue of low quality due to competition and increasing costs, has placed the local tea industry in a big fix, which could, if unattended, immediately mark the end of a Sri Lankan legacy in four to five years. Despite Sri Lankan tea ...
Thousands of jobs at risk By Indika Sri Aravinda The tea industry, the country’s second largest net foreign exchange earner is facing a potential crisis as a result of the economic sanctions imposed on Iran by the US government, the Sri Lanka Tea Board said. Tea Board Chairperson Janaki Kuruppu
Tea export earnings increased by 16.1% to US$ 1,375 million last year due to both increased volumes and high prices. Ceylon tea continued to fetch the highest prices in the major auction centres of the world last year mainly due to the fine quality of Ceylon tea and the high international demand for orthodox tea. ...
Colombo (ICRC): The International Committee of the Red Cross (ICRC) has purchased 118 tonnes of locally-grown tea in Sri Lanka and shipped it to Jordan and Pakistan for distribution to internally displaced persons (IDPs) and resident populations affected by armed conflict and internal violence. ...
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