First quarter tea export dollar earnings hit 11-year high
- CNL Reporter
- April 29, 2025
- Business News
- tea export
- 0 Comments
Sri Lanka in the first quarter has increased tea export dollar earnings by 5% year-on-year (YoY) to $ 370.9 million, which is a 11-year high, Asia Siyaka Commodities PLC said. The quantity of tea exported in Q1 this year reached 63.2 million kilos, compared with 62.3 million kilos the year before.
Asia Siyaka said the $ 370.9 million earnings convert therefore to a FOB value per kilo of $ 5.87, well above last year’s value of $ 5.69 per kg. The stronger Sri Lanka Rupee, which averaged around Rs. 296 to the Dollar compared with Rs. 313, reduced Rupee earnings for the period to Rs. 109.9 billion compared with Rs. 110.9 billion the year before.
There was a positive performance on Value-Added exports, which increased to 56% of all shipments from 53% the year before. Exports in Packets, Tea Bags, Instant Tea, and Green Tea all increased in quantity YoY.
Asia Siyaka said Iraq continues as the prime destination for Sri Lanka’s tea exports with a quantity of 9 million kilos, followed by Russia with 6.3 million kilos. Libya comes in third with a massive 416% YoY increase to 5.3 million kilos against 1 million kilos. Shipments to and through the UAE have declined 35% from 7 million kilos to 4.5 million kilos.
