October tea exports up 14% YoY

Sri Lanka’s tea exports reached 20.79 million kilogrammes in October 2024, a 14 percent increase from 18.21 million kilogrammes in the same month last year, with all product categories showing growth, the industry data showed.

The FOB value per kilogramme for October rose by Rs.86.54 year-on-year (YoY) to Rs.1,791.78, compared to Rs.1,705.23 in October 2023.

The cumulative tea exports for January-October 2024 totalled 203.15 million kilogrammes, up 3.45 million kilogrammes, from 199.70 million kilogrammes during the same period in 2023. While most categories recorded gains, tea packets showed a decline.

The FOB value for the 10-month period stood at Rs.1,774.98 per kilogramme, a slight decrease of Rs.2.45 YoY, from Rs.1,777.43. In dollar terms, however, the FOB value rose by US $ 0.43 during this period. Bulk tea and packeted tea recorded slight gains in rupee FOB value, while the other categories reported declines. In dollar terms, all categories, except instant tea, recorded increases.

Iraq remained the largest importer of Ceylon Tea in January-October 2024, purchasing 27.11 million kilogrammes, a 3 percent decline YoY, from 28.09 million kilogrammes. Russia followed with 20.61 million kilogrammes, an 8 percent increase.

The other major markets included the UAE, with imports rising 27 percent YoY to 18.75 million kilogrammes, Turkey down 42 percent to 14.76 million kilogrammes, China down 2 percent to 9.67 million kilogrammes, Azerbaijan up 15 percent to 8.76 million kilogrammes and Iran, which recorded an 83 percent increase to 8.75 million kilogrammes.