Sri Lankan tea exports has showed the best revenue generation for the time period since 2018 in terms of the first quarter. Asia Siyaka Research reports that Ceylon tea industry has hit this high of six years, bringing $ 354 million in to the island. These data was taken from the publication of Sri Lankan Custom.
Sri Lanka was able to excellent performance shipping 62 Mnkg during the period January – March 2024, up 15% on last year’s figure of 54 Mnkg.
But the indicators demonstrate that though the Dollar revenue has increased from 13% when comparing to the 2023, the circumstance in growing of rupee income has in a somewhat of a stable level showing only a nominal change with an increase from Rs.36 billion to Rs.38 billion. It says that the continuous strengthening of Sri Lankan rupee against US Dollar and the lower prices presenting in general auctions have been the immense impact on the nominal change in Sri Lankan Rupee earnings.
It said Iraq topped the list of biggest buyers with a quantity of 8.4 Mnkg amounting to 14% of all shipments in 2024. The UAE follows with 7 Mnkg, up 56% on last year. Shipments to Russia have grown 14% YoY 6.4 Mnkg. Turkey follows but quantities have declined a sharp 40% to 4 Mnkg. Iran has increased 166% YoY from 1.3 Mnkg to 3.4 Mnkg this year. Saudi Arabia has increased 39% YoY 2.5 Mnkg and is followed by China up 8% to 2.4 Mnkg.
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