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Lankan tea exports dip

Sri Lanka’s Tea exports revenue in July 2021 of Rs. 23.02 billion shows a decrease of Rs. 1.31 billion compared to Rs. 24.33 billion in July 2020. Observers say that this may be due to a combination of restricted shipping logistics and perhaps Covid-19 pandemic related constraints.
Tea Exports for July 2021 totalled 25.54 M/kgs also showing a decrease of 2.50 M/kgs vis-à-vis 28.04 M/kgs of July 2020. All main categories of exports (Bulk Tea, TeaBags and Packeted Tea) have shown a decrease compared to the corresponding period of 2020.
The resulting FOB value of Rs. 901.35 (USD 4.56) records an increase of Rs.33.69 compared to Rs. 867.66 (USD 4.72) of July 2020. It would be noteworthy that whilst the Rupee FOB values have increased in 2021, in USD terms it reflects a lower value.
Iraq has emerged at the No. 1 position as the major importer of Ceylon Tea, followed by Turkey and Russia with the U.A.E. moving up to the fourth position having increased imports significantly (179% YoY). Iran, which has moved down to the sixth position from the fourth position it occupied in 2020, records a fairly significant decrease (25% YoY) in imports during January-July 2021. Other notable importers are China, Azerbaijan, Libya and Syria.

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