Fresh Growth

Sri Lanka shipped out 12 mn kilos more tea in the 1Q of 2004, up from 65 mn kilos exported in 2003.
Adding to the good news, the total value of the export orders reached Rs. 18 bn from Rs. 14 bn, increasing the average price per kilo to Rs. 234.2 from Rs. 225 in the previous year.

Prior to the currency conversion, the value of the exports was up at US$ 185 mn, from US$ 176 previously. This is still below the record dollar prices reached back in 1998, just prior to the Russian Ruble crisis, Asiya Siyaka Commodity Brokers said.

Russia meanwhile, continued to sip a bulk of Sri Lankas exports, with a 20.2 mn kilo share. This however, is marginally lower than the 20.36 mn kilos shipping in the same period in 2003.

The growth was spurred by increased buying from the UAE, where shipments almost doubled to reach 7.4 mn kilos from 3.7 mn kilos in the previous year.

Export orders to Siriya, Turkey and Jordan also moved up during the three-month spell.

-LBO Newsdesk: