Tea Bags exports recover in June

Exports of tea bags have recovered in June 2020, Asia Siyaka Commodities said. Asia Siyaka, quoting Customs data stated that Sri Lanka has exported 2.19 million kg of Tea Bags in the month of June. Exports of tea in this value-added form declined to 0.94 million kg during the shutdown period in April and picked up to 1.55 million kg in May. The June quantity of 2.19 million kg is also higher than the previous year’s monthly figure of 1.89 million kg. Asia Siyaka stated that the country exported a total of 23.6 million kg in June, this is marginally lower than the previous year’s figure of 24.1 million kg, but ahead of May quantity of 22.6 million kg. Total exports in the first half of 2020 were 124 million kg, trailing the previous year’s quantity of 145 million kg. “This year’s exports were impacted negatively by poor Q1 tea production with the cumulative YoY shortfall to June reaching 29.8 million kg,” Asia Siyaka said. The country has earned Rs. 106 billion down 13% on previous year’s value of Rs. 121 billion. This converts to an approximately US$ 571 million compared with US$ 686 million in 2019 and 1H figure of US$ 728 million in 2018. According to Asia Siyaka, Iraq is the main destination with absorption of 16.2 million kg down from 19.6 million kg a year ago. Turkey follows at 15.7 million kg against 18.1 million kg last year. Further, exports to Russia picked up in June to reach 14.4 million kg; marginally lower than 14.9 million kg the year before. Iran quantities declined 14% from 10.3 to 8.9 million kg; followed by Azerbaijan down to 5.3 million kg this year. China imported 5 million kg by 1H 2020 down 16% from 6 million kg during the same period the year before. Chile rose sharply to 4.6 million kg from 2.5 million kg a year ago and is followed by Syria 3.5 million kg. Saudi Arabia a high-value market has increased imports of Ceylon Tea to 3.4 million kg from 3.1 million kg in 2019. UAE 3.3 million kg, Libya 3.2 million kg and Germany 3 million kg are the other major importing markets.      

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