Sri Lanka tea shipments down in April 2017, earnings up
ECONOMYNEXT – Sri Lankan’s tea exports fell 9 percent to 20.1 million kilos in April 2017 from a year ago, but earnings grew as prices were higher, Forbes & Walker Tea Brokers said.
“All main categories, tea bags, packeted and bulk teas have shown a decrease compared to the corresponding month of 2016,” they said in a report.
But total tea export revenue grew 23% or Rs.3.1 billion to Rs. 16.5 billion in April 2017 compared with the same month last year and average tea export prices were up 36%.
“It is also relevant to note that the total FOB (free on board) value recorded for April 2017 of 822.83 rupees too shows a significant gain of 218.06 rupees vis-à-vis 604.77 rupees of April 2016,” Forbes & Walker Tea Brokers said.
On a cumulative basis, during January-April 2017, total exports fell 8.1 million kilos to 88.5 million kilos from the same period in 2016 with tea bags, packeted and bulk teas all down.
But total value realized for the period January-April 2017 of 69.2 billion rupees was a gain of 10.8 billion rupees compared with January-April 2016.
(COLOMBO, May 25, 2017)