by Shabiya Ali Ahlam
Tea quantities exported in April showed a year-on-year (yoy) dip of 3.26 percent, resulting the cumulative exports for the first six months of the year to improve by a mere 0.51 percent compared to the corresponding period in 2015.The total quantity of tea exported for the month of April 2016, including re-exports with imported tea, amounted to 22.18 Mn/kg, showing a decrease of 0.75Mn/kg.
The FOB price per kg for April 2016 was Rs. 604.77 compared to the Rs. 591.52 recorded in April 2015.
January to April 2016 cumulative exports, including re-exports with imported tea, amounted to 96.63Mn/Kg as against96.14Mn/Kg achieved in the corresponding period the previous year.
Meanwhile, latest statistics from the Tea Board showed cumulative earning reached Rs. 58.48 billion, a 0.91 percent gain of Rs. 0.53 compared to the previous year.
Analysis of cumulative exports by Ceylon Tea Brokers pointed out that volume of tea in bags and the FOB value shows an increase when compared to the same period last year. This is however offset by a lower packeted tea figure of Rs. 2.3 billion this year against 2015. Bulk tea, instant tea and green tea earnings have contributed to gain in revenue on rupee terms.
Asia Siyaka Commodities stated that even with the increase in rupee terms, exports have earned a lesser figure of approximately US $ 93.2 million opposed to the US $ 102 million in 2015 for the period January - April 2016.
Country wise analysis of exports shows that Iraq is the largest export destination from Sri Lanka followed by Russia and Iran. However, cumulative exports to Turkey have dropped by 59.58 percent to 6.01Mn/Kg against the same period last year. Turkey ranks as the fifth largest export destination for Ceylon tea, while the United Arab Emirates ranks fourth.