Tea exports up by 27%

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By 2017-11-24

By Paneetha Ameresekere

Sri Lanka's tea exports backed by buoyant prices and a weak rupee continued to make gains with exports in the first 10 months of the year increasing by 26.66 per cent (Rs 40.9 billion) to Rs 194.3 billion year -on-year (YoY), Forbes & Walker (F&W), a tea exporting firm's data showed. However, export volumes in the review period declined by 1.75 per cent (4.3 million kilos - kg) YoY to 245.6 million kg due to the recent drought. Nonetheless, with the advent of the North-East monsoons, saw production in the first 10 months of the year increasing by 8.71 per cent (20.7 million kg) to 258.3 million kg, YoY. Last month alone tea production increased by 11.35 per cent (2.6 million kg) to 25.5 million kg, YoY. Meanwhile, tea export volumes were led by five countries which accounted for more than 50 per cent of the total export volumes. They were respectively, Turkey, Russia, Iraq, Iran and the United Arab Emirates (UAE), which together accounted for 51.06 per cent of the total export volumes in the review period.

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