Tea exports dip

Tea exports for the month of April 2023 totaled 16.16 M/Kgs, showing a deficit of 2.13 M/Kgs vis-à-vis 18.29 M/Kgs of April 2022.

All product categories have witnessed a decline against the corresponding month of 2022. FOB value in April 2023 was recorded at Rs. 1,856.62, an increase of Rs. 452.11 YoY compared to the Rs. 1,404.51 of April 2022. Furthermore, positive variances were recorded in all categories in USD terms, said Forbes & Walker Research. Meanwhile January-April 2023 cumulative exports totalled 70.25 M/Kgs, showing a decrease of 11.74 M/Kgs vis-à-vis 81.99 M/Kgs of January-April 2022. Tea in bulk and Packeted Tea continue to show negative variances. FOB value for the period stood at Rs. 1,996.29, an increase of Rs. 915.24 vis-à-vis Rs1,081.05 of January-April 2022. All categories showed gains in USD terms as well when compared to the corresponding period of 2022.

Türkiye continues to maintain its position as the No. 1 major importer of Ceylon Tea with an increase of 92% YoY in January-April 2023. Russia has secured second position at 7.82 M/Kgs, narrowly surpassing Iraq whose exports have declined by 51% YoY. U.A.E. has moved down to the fourth position having decreased imports by 28% YoY. China has secured the fifth position having decreased imports by 15% YoY.