January to September Tea exports increase

January to September 2024 cumulative tea exports totalled 182.36 M/Kgs, recording an increase of 0.87 M/Kgs vis-à-vis 181.49 M/Kgs of January-September 2023 said Forbes & Walker Research.

Iraq retains the top position among leading importer countries of Ceylon Tea for the cumulative period in 2024 with a total of 24.16 M/Kgs, a marginal decline of 6% YoY in January-September 2024 against the previous year’s 25.83 M/Kgs.

Russia was at 2nd place and witnessed an increase of 4% YoY with 18.45 M/Kgs vis-à-vis 17.74 M/Kgs recorded in 2023. The U.A.E with 17.49 M/Kgs (33% increase YoY) followed by Türkiye 13.40 M/Kgs (43% decrease YoY), China 8.84 M/Kgs (96% increase YoY) and Iran 8.15 M/Kgs have been cited as other notable importers of Ceylon Tea in the period of January-September 2024. However tea Exports for the month of September 2024 totalled 19.79 M/Kgs, showing a negative variance of 3.37 M/Kgs vis-à-vis 23.16 M/Kgs of September 2023.

Export earnings for the month were recorded at Rs. 35.24 Bn, a decline of Rs. 3.48 Bn (-8.96% ) vis-à-vis Rs. 38.72 Bn earned in the corresponding month of the previous year. Tea in bulk and packeted tea show negative variances, whilst tea bags, instant tea and green tea have recorded marginal gains in comparison with the corresponding month of the previous year. FOB value in September 2024 was recorded at Rs. 1,780.47, an increase of Rs. 109.08 YoY compared to Rs. 1,671.39 of September 2023.

Source:Daily News