Ceylon Tea exports drop by 12% upto Nov.

Business

Sri Lanka’s tea exports have faced a drop of 12 per cent for the 11-month period from January to November with a loss in revenue recorded at US$57 million compared to the same period last year.

Tea exports in November dropped by 6.59 million kg to a low of 19.28 million kg from 25.87 million kg in same 2021 month. All main categories have shown a negative variance compared to November 2021, the Forbes & Walker tea report stated.

The January – November cumulative exports this year amounted to 230.89 million kg showcasing a decrease of 3.096 million kg down by 12 per cent compared to the same period last year when exports reached 261.85 million kg.

The FOB value of Rs.1, 611.72 records an increase of Rs.691.06 compared to Rs.920.66 for the same period last year.

The total average shows a positive variance of 0.38 in USD terms when compared to the same period of 2021.

Revenue decline by $57 million to $1,170 million compared to $1,227 million recorded for the same period last year. (SD)

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