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Sunday July 25th, 2021
Business

Sri Lanka tea exports down 2-pct in Feb 2021, China buys more

ECONOMYNEXT – Sri Lanka’s tea exports fell 2.07 percent from a year ago to 23.16 million kilograms in February 2021, while revenues in rupee rose 11 percent to 21.7billion rupees, partly helped by currency depreciation, industry data showed.

The average free on board price rose to 940.09 rupees in February 2021 from 827.38 last year, data from Ceylon Tea Brokers, a Colombo based brokerage showed.

Bulk tea exports rose 1.49 percent to 9.85 million kilograms, tea in packets fell 7.68 percent to 10.57 million kilos, tea in bags rose 5.3 percent to 2.05 million kilos.

Instant tea grew 42 percent to 324,000 kilograms.

In the first two months of 2021 tea exports were down 3.85 kilograms to 43.98 million kilogram.
Revenues rose 8.9 percent to 41.01 billion rupees.

Turkey retained its place as the top buyer of Ceylon Tea, taking 6.5 million kilograms in the first two months of 2021.

Russia too 5.0 million kilos, down from 5.54 million. Iraq bought 4.1 million kilograms from 6.9 million kilograms.

China became the fourth largest buyer in the first two months taking 3.0 million kilos, up from 1.3 million last year, beating Iran which is usually in the top 5.

Over the past three years, China has emerged as a top buyer of Ceylon Tea. (Colombo/Mar28/2021)

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