Tea export volumes down in January

• Contracts by 1.44 MnKgs from Jan. 2021
• Exports of bulk and tea bags drop, packeted tea improves
• Iraq tops list as largest importer of Ceylon Tea

The Ceylon Tea exports contracted in the month of January, with the total quantities reaching international markets amounting to 19.38 MnKgs.
The January export volume was a decrease of 1.44 MnKgs, in comparison to the 20.82 MnKgs exported in the corresponding period in 2021.
The main categories of bulk tea and tea bags showed a decrease, while packeted tea showed an increase, the latest tea market report by Forbes and Walker Tea Brokers highlighted.

The FOB value of Rs.948.24 increased by Rs.24.25, when compared to the Rs.923.99 of January 2021. Despite the increase in the rupee FOB, it reflected a lower value in US dollar terms. For January, Iraq emerged as the top importer of Ceylon Tea, with a 112 percent increase year-on-year (YoY). Russia became the second largest importer, with an 83 percent increase in imports when compared with January 2022. 

The United Arab Emirates (UAE) was ranked as the third largest importer while Libya (384 percent increase YoY) and Iran (25 percent increase YoY) secured the fourth and fifth positions.
The other notable importers were Azerbaijan, China, Saudi Arabia and Chile. Meanwhile, imports from Turkey dropped significantly by 83 percent, pushing it down to the 10th position from the second position in 2021.  Similarly, Syria dropped to the 16th position, from the 10th position it occupied in 2021, with a decrease of 61 percent YoY.