Tea exports dip in Feb. FOB value show significant increase

Tea Exports for the month of February 2023 totalled 18.55 M/Kgs, showing a decrease of 2.59 M/Kgs vis-à-vis 21.14 M/Kgs of February 2022.

Main categories of Bulk Tea and Packeted Tea have shown a decrease, whilst Tea Bags have recorded a marginal increase when compared to the corresponding month of 2022, according to Forbes & Walker Research. Free On Board (FOB) value of Rs. 2,040.25 records a significant increase of Rs. 1,077.98 compared to Rs. 962.27 of February 2022. FOB value of USD 5.61 records an increase of 0.82in comparison to USD 4.79 of February 2022.

Meanwhile January-February 2023 cumulative exports totalled 36.11 M/Kgs, showing a decrease of 4.42 M/Kgs vis-à-vis 40.53 M/Kgs of January-February 2022. FOB value of Rs. 2,047.59 records a significant increase of Rs. 1,092.03 compared to Rs. 955.56 of January-February 2022. All main categories FOB values show a positive variance in USD terms, when compared to the corresponding period of 2022 Türkiye has emerged as the No. 1 major importer of Ceylon Tea with an increase of 139% YoY in January-February 2023. Iraq has secured the second position followed by Russia having decreased its imports YoY by 37% and 25% respectively. UAE has moved down to the 4th position having decreased imports 11% YoY.

Other notable importers are China, Saudi Arabia, Libya, Jordan and Iran. Imports from destinations such as Libya and Iran have decreased by a significant 51% and 50% respectively YoY, meanwhile exports to Japan (57%), Lebanon (213%) and Belgium(115%) have shown significant gains.


Author: shehan

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