Sri Lanka’s tea exports earnings from January to April 2018 comes close to record tea exports of 2014
A Tea Market report by Sri Lanka’s Asia Siyaka Commodities PLC has reportedly stated that Sri Lanka had earned over US$ 478 million from tea exports from January to April 2018, which is only second to the 2014 record of US$ 508.7 million.
Accordingly, this marks the highest earning in a quarter during the last four years since April 2014, reports state.
Media reports further state that the country had earned over a high of Rs. 74.1 billion from tea exports during the first four month period in 2018 from January to April 2018, which is a 7 percent increase compared to previous year’s figure of Rs. 69.2 billion.
Tea exports for January – April 2018 had recorded at 89.7 Million Kilograms against 88.5 Million Kilograms during the same period the year before.
Meanwhile, Sri Lanka had reportedly shipped 20.8 Million Kilograms of tea in April 2018 alone, which is a 4 percent increase on last year’s figure of 20.1 Million Kilograms. Reports also state that Russia /CIS have absorbed the highest quantity of 16.9 Million Kilograms, but lower than the last year’s figure of 17.8 Million Kilograms.
Iraq has imported 11.7 Million Kilograms against 10 Million Kilograms during the period January – April 2017, which is a gain of 17 percent, reports add.
According to reports, shipments through Turkey have risen from 9.5 Million Kilograms to 11.3 Million Kilograms.
OSL take:
The continuous increase in Sri Lanka’s tea exports indicates it as a lucrative business for foreign investments. Foreign companies could look at value additions to Sri Lankan teas as well as come up with new promotional work to sell the many varieties of Sri Lankan teas.
| Article Code : | VBS/AT/20180606/Z_8 |