October tea exports down 4% YoY

• After five months, tea exports fall below 20 MnKg
• Cumulative exports for Jan.-Oct. 2023 down 5.6% YoY
• Iraq, Turkey and Russia emerge as top three importers 

The tea exports from Sri Lanka in October contracted marginally by 4 percent year-on-year (YoY), totalling 18.21 million kilogrammes.
After exporting over 20 million kilogrammes of tea for five consecutive months, the export volumes dropped to the levels recorded in January to April 2023, averaging about 17.5 million kilogrammes per month during that period.

For October, packeted tea and tea bags showed a marginal improvement, while other product categories declined compared to the corresponding period in 2022.

The FOB value in October 2023 was recorded at Rs.1,705.24, a decline of Rs.372.22 YoY, compared to Rs.2,077.46 in October 2022. Except for instant tea, negative variances were recorded in all categories in both Sri Lanka rupee and US dollar terms.
The cumulative exports for January to October 2023 declined by 5.6 percent YoY to 211.91 million kilogrammes. The tea bag and green tea categories recorded marginal growth, while the remaining product categories experienced a decrease compared to the same period in 2022.
On a cumulative basis, the FOB value for the period stood at Rs.1,777.42, an increase of Rs.200.35, compared with Rs.1,577.07 in January-October 2022. All categories showed gains in US dollar terms as well when compared to the corresponding period in 2022.
Looking at the key importers of Ceylon Tea for the first 10 months of the year 2023, Iraq ranked as the largest market, importing a total of 28.09 million kilogrammes. However, its imports contracted by 27 percent YoY against the 38.40 million kilogrammes in 2022. Turkey ranked as the second largest importer, with 25.53 million

kilogrammes, growing by 118 percent. It surpassed Russia, currently in the third position and the UAE, which is in the fourth position. Ceylon Tea exports to these two countries contracted by 8 percent and 20 percent YoY. China maintained its position, ranking fifth, with a marginal increase of 4 percent against the same period in 2022.