Sri Lanka’s tea exports to February slump 11%

Sri Lanka’s tea exports for January and February 2023 were down by 11 per cent totalling only 36 million kg for the period compared to last year’s 40.5 million kg.

The Asia Siyaka market report states that there was a strong market for Ceylon Tea in Q4 of 2022 which continued into January and February this year.

Earnings from exports for the period rose to US$204 million from $192 million the year before. This resulted in a sharp increase in the FOB price per kilo for the period January – February 2023 to $5.65 compared with $4.74 last year. This more than compensated for the 11 per cent drop in quantity.

Shipments to and through Turkey were the highest having doubled from 2 million kg to 4.7 million kg. Shipments to Iraq dropped 37 per cent from 7.4 million kg to 4.6 million kg this year. Russia is down 25 per cent from 4.9 million kg to 3.6 million kg.

Most other markets that make up the prime destinations were down on last year with two exceptions. Jordan has 0.7 million kg to 1 million kg with Japan a critical market for liquoring High Growns rising 5 per cent from 0.5 million kg to 0.79 million kg. This is a positive change as exports to this market have been sliding over the past few years. (SD