Sri Lanka packeted tea exports fall in January

ECONOMYNEXT – Sri Lanka’s tea export earnings rose sharply in January 2018 from a year ago, as the crop also recovered, with the free on board price near record highs but packeted shipments fell, brokers said.

Tea exports in January 2018 rose 4% to 21 million kilos from last year with Turkey and Iraq being the biggest buyers of packeted tea.

Asia Siyaka Commodities said January exports rose 13% to Rs.17.1 billion from a year ago with US dollar earnings up 10% to $111.78 million.

“The approximate rupee FOB price is the highest ever at Rs.818.73 a kilo which converts to USD5.32 per kilo,” the brokers said.

“The dollar FOB is only second to the record 2014 figure of $5.37. Last year’s average FOB value per kilo gram for the month of January was $5.03.”

While bulk tea exports and tea bags have shown a growth in January 2018 from last year, packeted tea shipments have shown a fairly significant decrease, Forbes & Walker Tea Brokers said.

Packeted teas account for the biggest earnings of all categories of exports, followed by earnings from bulk exports.
(COLOMBO, February 23, 2018)


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