Sri Lanka October tea exports up 10%

Sri Lankan tea exports rose 10% or by 2.6 million kilos to 25.5 million kilos in October 2017 from a year ago, Forbes & Walker Tea Brokers said.

Earnings rose 24.4% or by Rs5.1 billion to Rs20.9 billion in October 2017 from the previous year as prices improved sharply.

“This also has resulted in the FOB (free on board) value realizing Rs819.55 a kilo, a gain of Rs127.35 when compared to Rs692.20 of October 2016,” the brokers said in a report.

Tea bags, packeted tea and bulk tea all showed gains when compared to the corresponding month of 2016.

Total tea exports in the January – October 2017 period were down by 4.3 million kilos to 241.3 million kilos from the same period in 2016, with all categories of exports down.

But total earnings rose by Rs40.9 billion to Rs194.3 billion over the period.

The FOB value too for January – October 2017 rose by Rs180.81 a kilo to Rs805.43 from the same 2016 period.

Turkey retained the number one position as the largest importer of Ceylon tea for January – October 2017 followed by Russia and Iraq with Iran securing in 04th position.