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Tea exports decline in March

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Tea exports for the month of March 2022 totalled 23.17 million kilograms, showing a decrease of 2.64 million kilograms compared to 25.81 million kilograms of March 2021.

January-March 2022 cumulative exports totaled 63.70 million kilograms, showing a decrease of 6.19 million kilograms vis-à-vis 69.89 million kilograms in January-March 2021. Tea in Bulk has shown a noteworthy increase, whilst packeted tea has shown a significant decline and Tea Bags to a lesser extent when compared to March 2021.

Iraq has emerged as the No. 1 major importer of Ceylon Tea with an increase of 75% YoY in January-March 2022. UAE which has also increased its imports by 57% YoY has secured the second position followed by Russia with a decline of 15% YoY. Azerbaijan has moved up to the 4th position having increased imports 17% YoY. Iran has secured the 5 th position having increased imports by 27% YoY. Other notable importers are Turkey, Libya, China, Saudi Arabia and Germany.

Meanwhile, Turkey has moved down to sixth position from the first position it occupied in 2021 with imports having dropped by a significant 64%. Syria has also dropped to 13th position from the 8 th position it occupied in the previous year with a decrease of 56% YoY. Tea in bulk has shown a noteworthy increase, whilst packeted tea has shown a significant decline and to a lesser extent tea bags when compared to March 2021.

FOB value of Rs. 1,045.14 in March 2022 records the highest ever in a calendar month surpassing the previous best of Rs. 962.27 in February 2022. This record an increase of Rs. 94.33 compared to Rs. 950.81 of March 2021. Although the total Rupee FOB value has increased in 2022, in USD terms it reflects a significantly lower value. FOB value of Rs. 988.15 records an increase of Rs. 49.18 compared to Rs. 938.97 of January-March 2021.

 

Friday, April 22, 2022 – 01:00











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