Wednesday, 29 July 2020 20:09

Tea exports suffer a blow in June during living with Covid

Sri Lanka’s tea exports suffered a major blow in June 2020 recording the low shipment and dip in value as COVID-19 mitigation measures caused disruption to trade.

The total quantity of tea exported for the month of June 2020 including Re-Exports with imported Tea amounted to 23.69 Million kg, showing a decline of 0.42 Million kg (-1.73%) compared to the same period last year.

According to Ceylon Tea brokers PLC, the Free On Board (FOB) price per Kg for the month of June 2020 recorded Rs. 902.29 vis-à-vis Rs.829.12 for the month of June in 2019.

Total export earnings showed an increase of Rs.1.39 Billion (6.94%) for the month of June 2020 as against the corresponding month in 2019.

Cumulative exports for the period January to June 2020 including Re-Exports with imported Tea amounted to 124.09 Million kg, showing a decline of 21.06 Million kg (-14.51%) compared to the same period last year.

The FOB price per Kg for the period January to June 2020 recorded Rs.854.92 vis-à-vis Rs.839.46 for the corresponding period in 2019 (LKR +15.46). Total export value for the period January to June 2020 shows a decrease of Rs. 15.76 Billion (-12.93%) as against the same period in 2019.

Equivalent USD export earnings for the period January to June 2020 amounted to approximately US $ 0.57 Billion as against 0.68 Billion in the same period last year showing a decline of approximately US $ 0.11 Billion.

(LIN)

Latest Business News

Image
There are 31882 listings and 982 categories in our website