Tea exports post Rs. 411b revenue for 2022 | Sunday Observer

Tea exports post Rs. 411b revenue for 2022

22 January, 2023

Ceylon Tea exports recorded a revenue of Rs. 411.09 billion from January-December 2022, the highest ever in a calendar year, an increase of Rs. 147.74 billion in comparison to the Rs. 263.35 billion in revenue from January-December 2021, according to Forbes & Walker Research.

However, January-December 2022 cumulative tea exports totalled 250.19 M/Kgs, s a decrease of 35.82 M/Kgs vis-à-vis the 286.01 M/Kgs from January-December 2021.

All main categories of exports (Bulk Tea, Tea Bags and Packeted Tea) too showed a decrease compared to the corresponding period of 2021.

The FOB value of Rs. 1,643.11 recorded, is an increase of Rs. 722.35 compared to Rs. 920.76 from January-December 2021, thus recording the highest ever FOB value surpassing the previous best which was realised during the corresponding period in 2021.

Total US Dollar FOB value of US$ 5.10 is an increase of US$ 0.42 in 2022 when compared to US$ 4.68 recorded in 2021.

Total revenue of USD 1,277 million shows a decline of USD 61 million compared to 1,338 million from January-December 2021.

Iraq has remained the No. 1 importer of Ceylon Tea following a marginal increase of 2% YoY from January-December 2022. Russia has moved a place to the No. 2 position with a decline in imports (9.6% YoY) followed by UAE, which has also declined (2.5% YoY). Türkiye has moved down to the 4th position having reduced imports significantly (47% YoY).

Iran, which remains at the 5th place, shows a decline of (17% YoY) in imports from January-December 2022. Other notable importers are Azerbaijan, Libya, China, Germany and Chile.

A significant decrease in imports was reported from China (21%), Chile (26%), Syria (21%), Japan (10%) and Jordan (25%) YoY.