Sri Lankan tea exports sank to a 7-year low in 2016, recording a figure of 288.7 million kg, compared to 306.9 million kg in 2015, Customs data shows.
The last time tea exports fell below 300 mln kg was in 2009, according to a report by Asia Siyaka Commodities Plc.
It said with supply pressure starting Q4 2015 auction prices rose around mid-year. With tea prices up, total value of tea exports in 2016 rose to Rs. 184.7 billion (US$1.26 billion) against Rs.182 billion ($1.33 billion at then rates) during January – December 2015. The foreign exchange earning component was lower due to the depreciation of the rupee last year.
Value added exports which include all tea other than shipments in bulk form remained at 57 per cent of the total. The quantity shipped in tea bags was higher at 23 million kg compared with 22 million in 2015.
A Sri Lanka Air Force Bell 212 helicopter belonging to the No. 72 squadron has crashed into the Madhuru Oya reservoir this morning, Air FOrce Media Spokesman Eranda Geeganage said.
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