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Tea export earnings rise 26 percent in 2017

Sri Lanka customs data analyzed by Siyaka Research confirms that the country earned a highest ever Rs. 233.3 billion from tea exports in 2017.

A massive 26 percent or Rs. 48 billion more than 2016 figure of Rs.184 billion.

The previous rupee record was Rs. 212 billion in 2014 earned from an export quantity of 327 Mnkg compared with 288 Mnkg this year.

The approximate Dollar value of all exports is $ 1.53 bln, the highest since 2014 value of $1.63 bln. In that year the country exported a highest ever 327 Mnkg, 12 percent more.

This makes 2017 FOB value a record $ 5.30 well above the previous record of $ 5 achieved in 2014 and much more than the FOB price of $ 4.39 achieved in 2016.

This year’s figure is the lowest since 2009 when 289.6 Mnkg was exported. The countries export quantities peaked at 327.4 Mnkg in 2014 but have been sharply lower since then. A review of the different segments have bulk tea shipments at 43 percent with Packets at 47 percent.

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