Sri Lanka records increase in tea exports between January and August
Sri Lanka’s total tea exports during the period January-August 2021 has increased to 187.57 million kilos indicating an increase of 13.43 million kilos over the corresponding period last year as total tea exports from January to August 2020 was 174.14 million kilos.
According to local media reports, Bulk Tea, Tea Bags and Packeted Tea have shown an increase compared to the corresponding period of 2020.
FOB value of Rs. 927.21 is an increase of Rs. 68.96 compared to Rs. 858.25 of January-August 2020. Sri Lanka exported 25.48 million kilos of tea in August 2021, which is an increase of 3.47 million kilos over the same month last year, which was 22.01 million kilos of tea.
Bulk Tea and Packeted Tea categories have also shown growth when compared with the corresponding period of 2020.
“FOB value of Rs. 917.20 records an increase of Rs. 52.21 compared to Rs. 864.99 of August 2020. Although total Rupee FOB value has increased in 2021, in USD terms it reflects a lower value,” Forbes and Walker Tea Brokers have revealed.
Iraq has emerged at the No. 1 position as the major importer of Ceylon Tea, followed by Turkey and Russia with the U.A.E. moving up to the fourth position.
OSL take:
Sri Lanka’s tea exports have been recording a continuous growth rate through the years. The growth has opened up new business/investment opportunities in Sri Lanka’s tea industry. The government of Sri Lanka has also introduced incentives for business and investors interested in engaging/developing the country’s tea industry. The many trade agreements and trade concessions enjoyed by Sri Lanka have also helped boost the country’s tea industry. The business potential and opportunities in Sri Lanka’s tea industry have provided a lucrative business opportunity for foreign businesses/investors.
| Article Code : | VBS/AT/27092021/Z_4 |