uly 23, 2015 (LBO) – Sri Lanka’s Tea exports, which were severely affected by the lower demand from Russia and the Middle East, declined for the eight consecutive month in May 2015, recording a drop of 12.1 per cent in May 2015.
Official data shows Sri Lanka exported 123.6 million US dollar worth tea in May 2015 compared to the 140.6 million US dollar tea exports in the same month last year.
Tea exports to Russia and the Middle East declined by 19.2 per cent and 9.7 per cent, respectively, during May 2015 compared to the corresponding month of 2014.
In a recent statement The Planters’ Association of Ceylon said, key export markets to which more than 70 percent of Ceylon Tea is exported – Russia, Middle East and Ukraine – is in crisis due to military conflict, economic sanctions and depreciation of the Russian Rouble etc.
For the first five months from January to May 2015, tea exports declined 13.0 percent to 561.0 million US dollars compared to 644.4 million US dollars in the same period of 2014.