Ceylon Tea export volumes lowest in 25 years

Sri Lanka’s tea exports last year dipped to its lowest quantities in 25 years with a marginal drop in earnings amounting to US$1.259 billion.

The Tea Board releasing the figures stated that export earnings declined by $65.7 million against the earnings of 2021 that amounted to $1.324 million.

However, the earnings in local currency topped at Rs.411 billion.

High demand for Ceylon Tea continued last year with the annual FOB unit price at $5.03 per kilo in 2022 compared to $4.63 per kilo in 2021.

Export volumes dipped to its lowest in 25 years with only 250.2 million kg shipped in 2022. This is a drop of 12.5 per cent compared to 2021. Record export volumes were achieved since 1997 when quantities shipped starting at 247 million kg continued to increase to its highest quantity in 2014 when exports reached 327 million kg.

The Tea Board also highlighted that the banning of herbicides and the fertiliser crisis impacted on production volumes that dropped significantly though numbers were yet to be released. (SD)