Business

SL tea exports drop by 2% in Jan-July 2018

Monday, 20 August 2018 Business


 


Overall total exports have marginally come down by 2 per cent from January to July in 2018 compared to the same period last year, statistics released by broker Asia Siyaka Commodities show. July alone saw a drop of 6 per cent.
Sri Lanka’s tea exports to Japan has dropped significantly by 15 per cent within the first seven months of this year compared to the same period in 2017.
Another significant drop was recorded from Iran (14 per cent), Libya (29 per cent), Russia (7 per cent) and Chile (7 per cent), the statistics show.
So far Sri Lanka has exported 162.7 million kg of tea this year upto July with packeted teas forming the bulk of sales at 76.4 million kg, 69.5 million kg in bulk teas and 12.6 million kg in tea bags.
US dollar earnings for the seven month period have dipped to $854 million from $871 million last year, it was noted.
Meanwhile, China continues its positive trend and is up 17 per cent in export volumes from 5.3 million kg to 6.3 million kg in 2018; while Iraq has grown from 22.6 million kg from 18.5 million kg in 2017.
Turkey which is considered to be nominally higher at 20.2 million kg is likely to dip in August following the currency crisis, the Asia Siyaka report stated. (SD)

SL tea exports drop by 2% in Jan-July 2018