Tea exports improve in 1Q16; earnings in dollar terms dip

29 April 2016 10:06 am - 0     - {{hitsCtrl.values.hits}}


Sri Lanka’s tea exports have moved to the positive territory in the first quarter of 2016 (1Q16) with March showing a 6 percent year-on-year (yoy) increase. But the earnings in US $ dollar terms were the lowest since 2010. According to Customs data, tea exports in March 2016 stood at 26.7 M/kg, up from 25.1 M/kg recorded in the corresponding month of the previous year. In 1Q16 tea exports rose 2 percent yoy to 74.4 M/kg.

In February 23.6 M/kg tea was shipped and it showed a marginal increase yoy, whereas January’s 24.1 M/kg was lower than 2015 figure. Analysis from Asia Siyaka showed that 1Q16 rupee tea export earnings is marginally up at Rs. 45.07 billion compared with Rs. 44.39 billion a year ago. “In dollar terms however the approximate value of shipments for the period is at US $ 313 million against US $ 335 million in 2015 and, is sharply lower than the record $ 390.62 million earned during 1Q14,” stated Asia Siyaka.

“1Q16 earnings are in fact the lowest since 2010 which recorded US $ 305 million. In that year the quantity exported was 70.2 M/kg compared with 74.4 M/kg shipped during 1Q16,” it added. A Review of different segments of exports revealed mixed results. Shipments of tea in packets in 1Q16 have declined to 34.6 M/kg, 47 percent of the total compared with 36 M/kg (49 percent) yoy.

Tea Bag exports have increased however to 6.5 M/kg (9 percent) from 5.6 M/kg (8 percent) last year when shipments slowed following payment issues. Tea in bulk form shows a negative situation with quantities increasing to 31.6 M/kg (43 percent) of the total against 30 M/kg (41 percent) in Q1 2015. Russia/CIS is the prime destination for Ceylon tea exports during the quarter under review. Quantities improved marginally yoy from 13.1 M/kg to 13.5 M/kg. Interestingly, Sri Lankan tea exports to this cluster were 16.9 M/kg in 1Q14, 17.5 M/kg in 1Q13 and 18.6 M/kg in 1Q12, which is a loss of 27 percent in four years.(SAA)

  Comments - 0

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment

Kidneys that whisper death

A flute version of Beethoven’s ‘Für Elise’ was echoing from a distance

Burning Panamanian tanker leaves SL authorities gutted

Weeks after MV Wakashio, a Japanese-owned bulk carrier, ran aground a coral r

New Diamond on Fire

The fire has been contained, now where will the oil go?


To have received her son’s death certificate on the day she brought him to