Tea export income increases to Rs 41 bn | Daily News
Jan.- Feb. 2021

Tea export income increases to Rs 41 bn

Sri Lanka Tea Board (SLTB) stated recently that it has performed well in January and February this year, earning Rs 41 billion export revenue, compared to the start of last year. The total tea production too had increased when compared to last year.

In the recent statement, tea exports of 2021, indicate Rs 41 billion, as compared to the beginning of last year of revenue of Rs 38 billion. The price of FOB (Full on Board) of tea had increased from Rs. 832 to Rs 932.

According to a Tea Board official from the period of January to February tea auction value has increased from Rs 595 to Rs 645, thus trickling down the benefit of the foreign exchange earnings and the increased export price to tea growers and manufacturers as well. Lankan Tea is performing well in more than 10 countries and is a popular demand in countries like Turkey, Iraq, Russia, Iran, Libya and Azerbaijan.

“SLTB and the government did not let Sri Lanka’s Tea Industry stop operations. Therefore, tea production and the exports were done while addressing the situational issues which arose due to the pandemic. On those grounds, SLTB has played a vital role to facilitate tea producers and exporters for their operations. SLTB had to take over the export facilitation procedures of some destinations such as Turkey in collaboration with the respective embassy in Sri Lanka,” the Tea Board official said.

Sri Lanka tea is targeting to export 295 - 300 mn kgs of tea this year, and more than 100 countries are importing Lankan tea. SLTB is processing to promote and artisanal teas, Ceylon green tea and organic teas to very specific markets segments.

Further, SLTB is looking to approach African and North American regions and regain the lost markets also. The high standard of ‘Ceylon Tea’ quality, wellness factor associated with premium black teas offered by Sri Lankan exporters, and the global promotional campaign launched by SLTB would have contributed to these gains realised by the Sri Lankan tea industry.

An e-auction programme was initiated during the pandemic to streamline the supply chain.