Tea industry continues to move towards negative growth trajectory in September

23 October 2015 05:52 am - 0 - {{hitsCtrl.values.hits}}

A A A

September production and revenue show YoY decline of 7.5% and 15.5%
Russia emerge as the largest importer
China, India and Pakistan show significant growth in imports

The tea industry continues to move towards a negative growth trajectory with production and revenue for September showing a YoY decline of 7.5 percent and 15.5 percent. However, improved purchases from key markets in the Asian region indicate the situation could improve if the demand sustains.
While tea exports for September 2015 totalled 24.6 M/kgs showing a decrease of 2M/kgs compared to 26.6 M/kgs in September 2014, Russia has emerged as the largest importer followed by Turkey and Iraq, whereas new markets China and India has improved the volume of imports from Sri Lanka YoY.
Furthermore, Pakistan imported substantially a higher volume than the corresponding period last year. Analysts note these developments are good signs for the local tea industry.
Cumulative exports for the period January to September 2015, including re-exports with imported tea, amounted to 226.10 Mn/Kg, showing a 6.33 percent drop compared to the same period last year. FOB price per Kg recorded Rs. 595.95 vis-à-vis Rs. 657.58 for the same period in 2014.
Latest weekly tea market report from Forbes and Walker Tea Brokers showed that bulk tea exports in September have shown a growth YOY whilst tea bags and packeted tea have shown a negative growth compared to the corresponding month the previous year.
Total revenue of Rs.14.7 billion realised for September 2015 too contracted by Rs.2.7 billion vis-à-vis Rs.17.4 billion recorded during September 2014.
The local tea production for September which totalled 26.8 M/kgs also followed suit with volumes showing a deficit of 2.2 M/kgs compared to September 2014.
The High Grown production showed a marginal YoY gain, whereas Medium Growns and Low Growns showed a negative growth compared to the corresponding month the previous year.
Cumulative production of 252.6 M/kgs recorded in the first nine months also showed a drop of 2.9 M/kgs vis-à-vis 255.5 M/kgs of January – September 2014. (SAA)

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

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.

Tea industry continues to move towards negative growth trajectory in September

Comments - 0

Add comment

RECOMMENDED

UDA owned land in Thalawathugoda; UDA Minister Prasanna Ranatunga under the spotlight for forceful occupation of reserved land

Loss-making SMIB faces political pressure in recovering loans

Baltimore Bridge Collapse: MV Dali, SL authorities anchored in mystery?

Has Sri Lanka become a potential hub for the illegal wildlife trade?

Spotlight on Moragahakanda Development Project Moragolla villagers lose livelihoods and down to one meal a day

Ambitious Sri Lankan jobseekers ‘trafficked into Ukraine war zones’

Western purple-faced langurs see blue!

Most Viewed in News

Two racing drivers arrested over Fox Hill tragedy

SL on alert on possible genocide allegations by Canada

Street food vendor arrested for verbally harassing foreigner

Racing event tragedy leaves seven dead including eight-year-old child

Ranil Wickremesinghe caravan moves on despite barking dogs

Complaint lodged over Piumi Hansamali's possession of Gota’s Range Rover

MIRROR CRICKET

Athapaththu back atop ICC Women’s ODI Batting Rankings

Chamari Athapaththu sets big goal for T20 World Cup

How does CSK get best out of Pathirana?

Mendis, Mathews move up in ICC Test Rankings

TODAY'S HEADLINES

United States and SL Navy collaborate in CARAT 2024 exercise in Trincomalee

Upcountry estate workers stage a token strike

People have already selected Ranil for Presidency: Prasanna

Construction work for India-funded 10,000 housing units commenced

Sri Lanka secures third spot in South Asian Kurash Championship 2024

Athapaththu back atop ICC Women’s ODI Batting Rankings

Army forms committee to probe Diyatalawa Fox Hill Supercross accident

Indian cricket manager indicted for Legend Cricket League match-fixing allegations