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Sri Lanka’s Ceylon tea exports down 17-pct in May 2022

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ECONOMYNEXT- Sri Lanka’s Ceylon tea exports dropped by 17 percent to 19.72 million kilograms in May 2022 from a year ago and dollar earnings were down 14 per cent to 93.7 million dollars, industry data shows as the country grapples with the effects of a fertilizer ban and forex shortages.

In rupee terms export in May were up 54 percent to 33 billion rupees, Sri Lanka Tea Board data published by Ceylon Tea Brokers showed.

The average free onboard price for a kilogram of Ceylon Tea had risen to 4.75 US dollars in May 2022 from 4.59 a year ago.

The price of Tea in bulk per kilogram has increased to 1,521.57 rupees compared to 784.60 rupees in the same period last year.

Tea in packets price has increased to 1,560.23 rupees compared to 865.11 rupees.

Tea in bags’ prices doubled to 2,752.46 rupees from 1,562.06 rupees.

The average price of instant tea in May was 2,706.73 rupees, up from 1,946.78 rupees in 2021.

Green tea price had doubled to 4,033.54 rupees in May 2022, up from 2,124.14 rupees per kilogram in 2021.

Up to May 2022, Sri Lanka has exported 101 million kgs, down from 109.9 in 2021.

In dollars terms, the total value of export from January to May is 457 million dollars, down 13 percent.

Whereas in rupee terms, Sri Lanka has generated 122 billion rupees for the first five months of 2022 compared to 103 billion rupees in 103 billion rupees in 2021.

Up to May Iraq was the top buyer, consuming 19 million kilograms this year, recording an increase of 6.95 percent compared to last year’s 12 million kilograms. (Colombo/June19/2022)

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