Increase in tea export earnings

Increase in tea export earnings

Sri Lanka's total quantity of tea exported including re-exports with imported tea for July reached to 29.88 million /kg, indicating a gain of 3.34 million/kg compared to the corresponding period in 2012.

The cumulative tea export earnings rose to Rs 17.76 billion, showing a slight gain of Rs 2.77 billion as against the same period last year with the increase in FOB (Free on Board) price per kg from Rs 564.92 to Rs.594.50, according to a tea market report.

Cumulative exports including re-exports with imported Tea for the period January to July 2013 recorded 174.25 million /kg, a decline of 7.82 million /kg in comparison to same period last year.

However, cumulative ex- port earnings amounted to Rs 104.48 billion, showing a slight gain of Rs 4.43 billion as against the same period last year with the increase in FOB price per kg from Rs 549.50 to Rs 599.58.

CIS countries including Russia are the main tea export destinations from Sri Lanka while Iran and Turkey continue to buy a major proportion of Ceylon tea. However, total tea exports from Sri Lanka to Libya has dropped by 7.65 million /kg as against the corresponding period last year.

Meanwhile, a total quantity of 5.9 mkgs was offered at this week's auction. Ex-estate offerings totalled 0.6 m kgs. Ex Estates met with good demand. Few select best western BOPs gained Rs.20 per kg and more for special enquiry. Others together with teas in the below best and plainer categories were irregular and Rs.30 per kg lower. Nuwara Eliyas gained Rs.30 to 40 per kg. Udapussellawas declined Rs.20 per kg. Select best Uva seasonal teas appreciated. Best western BOPFs gained Rs.10-20 per kg. Teas in the below best gained Rs.5-10 per kg. Nuwara Eliyas together with Udapussellawas declined Rs.30 per kg. Select best Uva seasonal teas gained sharply following airmail enquiry.

There was good demand coming in from Iran, Turkey and CIS. Last week. Crop intake for Western region showed a marginal increase whilst other regions maintained.