Tea export up in October

Tea exports for October 2021 totalled 24.34 M/kgs, showing an increase of 1.22 M/kgs compared to 23.12 M/kgs of October 2020.

All main categories such as Bulk Tea, Packeted Tea and Tea Bags have shown an increase when compared to the corresponding period of 2020. FOB value of Rs. 905.01 records an increase of Rs. 31.73 compared to Rs. 873.27 of October 2020. Although total Rupee FOB value has increased in 2021, in USD terms it reflects a lower value, according to Forbes and Walker tea market report, January-October 2021 cumulative exports totalled 235.98 M/kgs, showing an increase of 14.56 M/kgs compared to 221.42 M/kgs of January-October 2020.

Iraq has emerged as the No. 1 major importer of Ceylon Tea following an increase of 22% in January-October 2021. Turkey has moved down to the No. 2 position with a decline in imports (19% YoY) followed by Russia which has also declined (11% YoY). The U.A.E. has moved up to the 4th position having increased imports significantly (185% YoY). Iran, which has moved down by a position to the 5th remains static in imports during January-October 2021. Other notable importers are China, Libya, Azerbaijan and Chile.

Meanwhile, destinations such as Saudi Arabia, Germany and Chile have recorded a decrease in imports during the period under review. It is noteworthy that imports to China and Libya have increased significantly YoY by 10% and 43% respectively.

by Daily News Sri Lanka

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