Lanka to achieve tea export target

Sri Lanka will achieve the country’s tea export earning target of US $1.5 billion in 2013, according to data by Siyaka Research. The statistics suggest that by November, the country had exported 290.6 million kilos and earned US $1.40 billion.

Sri Lanka had an extraordinary year with prices for Ceylon tea moving on their own and seemingly out-of sync with the rest of the world. Sri Lanka’s unique range of orthodox black teas attracted strong demand throughout the year; even as some of the county’s key markets such as Iran, Syria and Libya were in turmoil. Additionally Egypt a major buyer of African Black Teas went through a bad patch politically and economically. High supply and slow demand saw prices at the Mombasa auction in Kenya, slump to a four year low Siyaka Research market review 2013, revealed.

Final figures for the year therefore would be close to 320 million kg at an approx. USD value of $1.54 billion. In 2011 the country earned US$1.49 billion and in 2012 the figure was US$1.40 billion making 2013 USD earnings the highest ever. In SL Rupees the income figure would be in the region of Rs. 197 billion . Well above the 2012 figure Rs. 164 billion Siyaka Research said.

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