January to May 2024 cumulative tea exports totalled 98.15 M/Kgs, recording an increase of 7.35 M/Kgs vis-à-vis 90.80 M/Kgs of January-May 2023.
Iraq has been ranked No. 01 amongst major importers of Ceylon Tea with a total of 12.2 M/Kgs, an increase of 18% YoY in January-May 2024 against the previous year’s 10.42 M/Kgs, whilst Russia has secured 2nd place with 10.67 M/Kgs (a 5% increase YoY) followed by the U.A.E with 10.34 M/Kgs (67% increase YoY). Other notable importer countries are Türkiye (7.04 M/Kgs), Iran (4.98 M/Kgs) and China (4.46 M/Kgs) , says Forbes & Walker Research.
All categories except for Bulk Tea and Tea Bags have recorded negative variances against the same period of the previous year. FOB value for the period stood at Rs. 1,772.33, a decrease of Rs.169.48 vis-à-vis Rs. 1,941.81 of January-May 2023.
All categories showed negative variances in LKR terms except for Green tea, whilst marginal gains were recorded in USD terms (excluding Tea Bags and Instant Tea) when compared to the corresponding period in 2023. Meanwhile Tea Exports for the month of May 2024 totalled 19.45 M/Kgs, showing a negative variance of 1.10 M/Kgs vis-à-vis 20.55 M/Kgs of May 2023.
All categories except for Bulk Tea and Tea Bags have shown negative variances in comparison with the corresponding month of the previous year.
