The total quantity of tea exported in the year 2015 which includes re-exports with imported Tea has recorded a significant decline of 16.03% (20.91 million kilograms) amounting to 306.97 Mn/kg when compared with the year 2014, statistics released last week showed.
According to Ceylon Tea Brokers Plc, with the decrease in the FOB price per Kg from LKR 649.37 to LKR 593.08 total export value for the period too records a noteworthy decrease of LKR 30.86 Billion (-14.49%) as against the same period last year.
Total quantity of tea exported for the month of December 2015 including re-Exports with imported Tea amounted to 25.43 Mn/kg, showing a significant decline of 4.85 Mn/kg (-16.03%) compared to the same period last year.
Drop in tea exports was mainly due to the political and economic uncertainties globally such as depreciation of the Russian Ruble, economic sanctions imposed on Iran and the sharp drop in oil prices.
Country wise analysis of exports shows that the Russia continues as the largest export destination from Sri Lanka followed by Turkey & Iraq. However, tea exports to Russia and Turkey have dropped by 7.39 Mn/Kg (-16.74%) and 11.04 Mn/Kg (-24.67%) respectively compared to the previous year whilst tea exports to Iraq has increased by 6.50 Mn/Kg (+26.12%). Tea exports to U.A.E and China have increased by 3.62 Mn/Kg (+18.29%) and 2.08 Mn/Kg (+38.79%) respectively compared to the corresponding period last year.
More importantly cumulative tea exports to India and Pakistan have increased by 1.57 Mn/Kg (+83.20%) and 3.19 Mn/Kg (+2586.77%) respectively when compared to the same period last year.