Sri Lanka tea exports: Iraq secures top position in 1H 2023

* Türkiye placed at No. 2 and Russia retains its No.3 position

* FOB value for the period shows an increase of Rs. 559.92

* All categories except for Instant Tea have witnessed a decline

by Sanath Nanayakkare

Iraq has secured the top position in Sri Lanka tea exports for the period January-June 2023 with a total of 14.73 M/Kgs, followed by Türkiye at No. 02 with 13.33 M/Kgs, and Russia retaining the 3rd position with an increase of over 14% (12.34M/Kgs) against last year’s 10.10 M/Kgs, a Forbes and Walker report stated yesterday.

Thereafter, U.A.E (7.49 M/Kgs) and China (5.77/Kgs) occupy the 4th and 5th places respectively. Other notable importers are namely, Azerbaijan, Libya, Saudi Arabia, Syria and Germany, Forbes and Walker stated.

“Meanwhile, Tea exports for the month of June 2023 totalled 21.41 M/Kgs, showing a decline of 2.16 M/Kgs vis-à-vis 23.57 M/Kgs of June 2022. All categories except for Instant Tea have witnessed a decline against the corresponding month of 2022.”

“FOB (Freight On Board) value in June 2023 was recorded at Rs. 1,568.97, a decrease of Rs. 210.66 YoY compared to the Rs. 1,779.63 of June 2022. Furthermore, positive variances were recorded in all main categories in USD terms.”

“June 2023 cumulative exports totalled 112.22 M/Kgs, showing a decrease of 13.07 M/Kgs vis-à-vis 125.29 M/Kgs of January-June 2022. Tea in Bulk and Packeted Tea continue to show negative variances, whilst the remaining product categories recorded a marginal increase.”

“FOB value for the period stood at Rs. 1,870.66, an increase of Rs. 559.92 vis-à-vis Rs. 1,310.74 of January-June 2022.  All categories showed gains in USD terms as well when compared to the corresponding period of 2022.”Forbes and Walker said.