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November tea volumes down

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Tea Exports for the month of November 2022 totalled 19.28 M/Kgs, showing a decrease of 6.59 M/Kgs vis-à-vis 25.87 M/Kgs of November 2021 according to Forbes & Walker report.

The FOB value of Rs. 1,992.05 in November 2022 declined marginally from the highest ever recorded in a calendar month of Rs. 2,077.46 in October 2022. The FOB value has seen an increase of Rs. 1,074.09 compared to Rs. 917.96 of November 2021 and in USD terms a gain of 0.89 January-November 2022 cumulative exports totalled 230.89 M/Kgs, showing a decrease of 30.96 M/Kgs (12%) vis-à-vis 261.85 M/Kgs of January-November 2021.

All categories have witnessed a decline in comparison with the corresponding period of 2021. FOB value of Rs. 1,611.72 records an increase of Rs. 691.06 compared to Rs. 920.66 of January-November 2021.

Total average showed a positive variance of 0.38 in USD terms when compared to the same period of 2021. The total revenue of USD 1,170 million shows a decline of USD 57 million compared to 1,227 million of January-November 2021. Iraq has remained the No. 1 major importer of Ceylon Tea with an increase of 8% in imports YoY for January-November 2022. Russia has secured second position with a total of 22.96 M/Kgs, which is a 6% decrease against total imports recorded for January-November 2022. UAE sits in third place with a total of 20.34 M/Kgs followed by Türkiye, Iran, Azerbaijan and Libya respectively during the period January-November 2022.

A significant decrease in imports is reported from Türkiye (52%), Iran, (18%), China (20%), Chile (21%), Syria (21%), Japan (13%) and Jordan (27%) YoY. A notable increase in imports is recorded from Azerbaijan (16%), Germany (4%), USA (8%) and Poland (5%) YoY as expanding markets for ‘Ceylon Tea.’

Thursday, December 15, 2022 – 01:00

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