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Sri Lanka tea exports fall for eighth month

ECONOMYNEXT – Sri Lanka’s tea exports, which were hit hard by lower demand from Russia and the Middle East, fell for the eight consecutive month in May 2015, down 12.1 percent from a year ago.

Tea exports to Russia and the Middle East declined by 19.2 percent and 9.7 percent, respectively, during May 2015 compared to the same month of 2014, the central bank said.

Demand for tea was affected by lower oil prices which affected buying power in Russia and the Middle East.

Tea export earnings fell 12 percent to 124 million US dollars in May 2015 from a year ago

In the five months to May 2015 tea export earnings were down 13 percent to 561 million dollars, central bank data showed.

(Colombo/July 22 2015)

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