Sri Lanka tea exports showed a marginal increase in February according to Ceylon Tea Brokers PLC review.
Country wise analysis of exports shows that the Iraq has emerged as the largest export destination from Sri Lanka followed by Russia & Iran. More importantly cumulative exports to Turkey have dropped by 3.05 Mn/Kg (-50.06%) as against the same period last year.
Total quantity of tea exported for the month of February 2016 including re-exports with imported Tea amounted to 23.61Mn/kg, showing a marginal increase of 0.06 mn/kg (+0.24%) compared to the same period last year.
With the increase in FOB price per Kg from LKR 610.92 to LKR 615.68 total export earnings too showed a slight gain of LKR 0.15 billion (+1.02%) as against the corresponding period last year.
Cumulative exports for the period January to February 2016 including re-exports with imported tea amounted to 47.74 Mn/Kg, showing a slight decline of 0.29 Mn/Kg (-0.61%) compared to the same period last year.
With the marginal decline in FOB price per kg from LKR 610.42 to LKR 604.27 cumulative export earnings amounted to LKR 28.85 billion, showing a marginal decline of LKR 0.47 billion (-1.61%) as against the same period last year.