Sri Lanka tea export earnings up sharply in first half

Aug 01, 2008 (LBO) – Sri Lanka’s tea export earnings hit a new high in the first half of this year compared with the same period in previous years, tea brokers said. Stock brokers said the high prices enjoyed by tea exporters were likely to boost the profits of listed plantations companies, which have drawn more investor interest in recent months, as the fortunes of other sectors waned.

Sri Lanka exported a highest ever 158.5 million kg during the January-June period in 2008 according to Custom data analyzed by brokers Asia Siyaka Commodities.

“This figure is nominally higher than the previous record of 158.4 million kg in 2006,” it said in a market report.

At the end of that year the country shipped a record volume of 327 million kg.

The rupee value of this year’s exports at 67 billion rupees is well above the 2007 record of 48 billion rupees, the brokers said.

“This converts to another record of 624 million dollars, a massive 42 percent more than last year’s record of 439 million dollars for the January to June period,” Asia Siyaka said.

Forbes and Walker Tea Brokers said the average export price per kilo of all categories of tea h