Sri Lanka H1 tea export earnings up on last year

Customs data shows that Sri Lanka earned Rs. 113.9 billion in January – June compared with Rs. 110.4 billion during the same 2017 period, a media release issued by Asia Siyaka stated.  

However this amounts to an approximate US Dollar value of $728.9 million almost equal to the previous year’s six month figure. It is relevant that these earnings came from a reduced quantity of 137.5 million kg compared with 138.6 million kg during the same period 2017. The effective approximate FOB value per kg therefore is $5.30 per kg and is the highest ever achieved and compares favourably with 2017 H1 figure of $5.25. 

“We believe that this difference will narrow in the months ahead as the current year's tea prices are lower than last year,” the report noted.
Exports to China continue to grow with the highest ever 5.3 million kg shipped to this market in H1 2018 compared with 4 million a year ago.  A slight improvement of the situation in Syria has enabled exports to rise 55 per cent from 3.4 to 5.3 million kg this year. (SD)