SL tea exports steady in January, production rises

Sri Lanka's January tea exports have been similar to last year’s figures for the same period at 24 million kg but production has increased by 7.8 per cent to reach 25 million kg.
The Asia Siyaka Brokers report this week indicates that the January tea exports held steady at 24 million kg compared to the same period last year but the rupee value of exports dropped by 4 per cent.
The drop in rupee value showed earnings at Rs.14.3 billion last month with the dollar dropping sharply by 12 per cent YOY 2015.
Earnings for the month at US$99.4 million was recorded as the lowest since 2010 when earnings from 21 million kg of tea amounted to $90 million.
The approximate FOB value per kg in 2016 is low at $4.12 compared with $ 4.64 last year and $5.37 in 2014, the report stated.
Meanwhile, production was high last month at 25 million kg up by 7.8 per cent compared to the last year figure for January at 23.2 million kg.
In addition, the report also notes that all three elevations recorded YoY increases, but volume increases have come primarily from the Low Growns which are up from 15.2  to 15.9 million this year and similarly High growns which have increased from 4.9 to 5.5 million kg. Mediums are up from 3.1 to 3.6 million kg this year. (SD)