Since the initiation of commercial tea cultivation in Sri Lanka by Scottish planter James Taylor, eventually this fine tea became one of the most favorite teas among tea lovers all over the globe. As ECONOMYNEXT had reported, Sri Lankan tea export revenues in rupee rose 11 percent to 21.7 billion rupees, partly helped by currency depreciation while tea exports volumes fell 2.07 percent from a year ago to 23.16 million kilograms in February 2021

The average FOB (free on board) price increased to 940.09 rupees in February 2021 from 827.38 last year, data from Ceylon Tea Brokers, a Colombo based brokerage showed.

Bulk tea exports increased 1.49 percent to 9.85 million kilograms, tea in packets dropped 7.68 percent to 10.57 million kilos, tea in bags increased 5.3 percent to 2.05 million kilos.

Instant tea grew 42 percent to 324,000 kilograms. In the first two months of 2021 tea exports were down 3.85 kilograms to 43.98 million kilogram. Revenues rose 8.9 percent to 41.01 billion rupees.

Turkey retained its place as the top buyer of Ceylon Tea, taking 6.5 million kilograms in the first two months of 2021. Russia too 5.0 million kilos, down from 5.54 million. Iraq bought 4.1 million kilograms from 6.9 million kilograms. China became the fourth largest buyer in the first two months taking 3.0 million kilos, up from 1.3 million last year, beating Iran which is usually in the top 5. Over the past three years, China has emerged as a top buyer of Ceylon Tea. (Colombo/Mar28/2021)

From Jan – Feb 2021

Tea exports of 2021, indicate Rs 41 billion, as compared to the beginning of last year of revenue of Rs 38 billion. The FOB price of tea had increased from Rs. 832 to Rs 932. According to a Tea Board official from the period of January to February tea auction value has increased from Rs 595 to Rs 645.

Future

Sri Lanka tea is targeting to export 295 – 300 mn kgs of tea this year, and more than 100 countries are importing Lankan tea. Sri Lanka Tea Board is processing to promote and artisanal teas, Ceylon green tea and organic teas to very specific markets segments.

Further, Sri Lanka Tea Board is having plans to approach African and North American markets and regain the lost markets also. The high standard of ‘Ceylon Tea’ quality, wellness factor associated with premium black teas offered by Sri Lankan exporters.

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References

1. Main Source: https://economynext.com/sri-lanka-tea-exports-down-2-pct-in-feb-2021-china-buys-more-80188/
2. More Information: https://www.msn.com/en-xl/asia/srilanka/tea-export-income-increases-to-rs-41-bn/ar-BB1eYo6S