The tea industry ganis momentum in this year with mixed results in February which saw lower export volumes, but with marginal increase returns, brokers said.
Sri Lanka’s tea exports in February have enjoyed a massive rise in FOB Rupee value from a year ago due to depreciation whilst volume has been lower, according to Forbes and Walker Tea Brokers.
Tea exports in February totalled 18.55 million kilos, down by 2.59 million kilos from a year ago.
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.
The FOB value of Rs. 2,040.25 per kilo in February was a significant increase of Rs. 1,077.98 per kilo compared to Rs. 962.27 per kilo in February 2022The FOB value of $ 5.61 reflects an increase of 82 cents from a year ago.
The country’s tea exports in January2023 fell by 3.26 million kg to 17.56 million kg compared to 20.82 million Kg a year earlier.
However, the earnings in January increased to $ 99.56 million up from $ 91.93 million in the corresponding period last year.
When analysing the main categories of export Forbes and Walkers said bulk tea, packeted tea and tea bags had shown a decrease compared to the corresponding period a year earlier.
January-February 2023 cumulative exports totalled 36.11 million kilos, down by 4.42 million kilos from the corresponding period of last year.
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 period of 2022.
The FOB value of Rs. 2,047.59 per kilo reflects a significant increase of Rs. 1,092.03 as against Rs. 955.56 achieved during January-February 2022.
Forbes said all main categories FOB values show a positive variance in …read more
Source:: LNW English