Sri Lankan tea exports to Russia fall sharply

ECONOMYNEXT – Sri Lankan tea exports to Russia and other former Soviet states has fallen sharply in recent years, according to an analysis of exports done by a brokerage.

Russia and the CIS (Commonwealth of Independent States) were the prime destination for Ceylon tea exports during the first quarter 2016, Asia Siyaka Commodities said.

Export quantities to these countries improved marginally to 13.5 million kilos in the first quarter of 2016 from 13.1 million kilos the year before.

“Interestingly, Sri Lanka exported 16.9 million kilos in the first quarter of 2014 to this cluster and 17.5 million kilos in 2013 and in 2012 18.6 million kilos. This is a loss of 27% in four years,” Asia Siyaka Commodities said in a report.

Customs data analyzed by Siyaka Research shows total  tea exports in March at 26.7 million kilos, up 6% on last year’s quantity of 25.1 million kilos.

In February 23.6 million kilos were shipped, up marginally from 2015. January’s 24.1 million kilos was nominally lower than 2015, the brokers said.

Tea exports in the first quarter of 2016 rose to 74.4 million kilos from 73.2 million kilos in January – March 2015.
(COLOMBO, May 14 2016)