Public Finance Data and Analysis
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In April 2024, tea exports totaled 16.38 million Kgs, marking a slight increase of 0.21 million Kgs compared to April 2023. Improvement was noted in Tea in Bulk, Instant Tea, and Green Tea, while Tea Packets and Tea Bags saw a decline compared to the previous year, according to Forbes and Walker Tea Brokers. The cumulative exports from January to April 2024 amounted to 78.70 million Kgs, an increase of 8.45 million Kgs from the same period in 2023. Except for Instant Tea, all categories demonstrated steady growth. The FOB value for April 2024 was Rs. 1,745.45, a decrease of Rs. 111.17 YoY from Rs. 1,856.62 in April 2023. Negative variances in LKR were observed across all categories except Instant Tea, though Tea in Bulk, Tea Bags, and Instant Tea recorded marginal increases in USD values. For the January-April period, the FOB value was Rs. 1,772.36, a decline of Rs. 223.93 from Rs. 1,996.29 in January-April 2023. Significant negative variances in LKR value were noted across all categories, with only Tea Packets and Instant Tea showing a marginal decrease in USD terms, while other categories saw a positive variance compared to the previous year.
In terms of markets, Iraq was the largest importer of Ceylon Tea from January to April 2024, with a total of 10.24 million Kgs, up 37 percent YoY. The UAE was the second-largest importer with 8.49 million Kgs, followed by Russia with 8.27 million Kgs. Türkiye experienced a 39 percent decline compared to the same period in the previous year. Iran's imports surged by 198 percent YoY, moving it from the 15th to the 5th position. Other notable importers included China, Saudi Arabia, Azerbaijan, Germany, and Chile.
