2012 tea export earnings grow despite fall in productionFebruary 1, 2013, 8:20 pm
Ceylon Tea Brokers PLC said earnings from exports grew in 2012 despite a fall in production.
Cumulative exports for the period January/December 2012 totalled 319.9m kgs vis-à-vis 322.6m kgs in 2011 thus showing a decrease of 2.7m kgs. Total revenue of Rs.180.4b has shown a growth of Rs.15.5b vis-à-vis Rs.164.9b in 2011. The higher revenue recorded in 2012 than the previous best achieved in 2011 in spite of a lower exported volume 2012 is mainly due to the devaluation of the rupee against the US$. The Export volume of tea in bulk and Tea in Packets in 2012 shows a marginal gain vis-à-vis 2011 same period whilst tea in bags shows a marginal decline. The FOB price per kg in 2012 is at Rs.563.94 a gain of Rs.52.86 vis-à-vis Rs.511.08 in 2011.
When analyzing the major importers, CIS including Russia has retained the position of No.1 followed by Iran, Syria, Iraq, Turkey and Libya. Exports to Iran and Libya have shown a significant growth in 2012 vis-à-vis 2011 (8.94% and 9.09%) respectively. UAE however in 2012 has shown a decline to the corresponding period of 2011 (10.65%).
Tea Exports for the month of December 2012 totalled 30.9m kgs showing a marginal gain of 0.7m kgs vis-à-vis 30.2m kgs in 2011.
Bulk tea and Tea in packets has shown a growth YOY whilst tea in bags shows a decline compared to the corresponding total of 2011. The total revenue of 17.7b realized in December 2012 shows a gain of 2.6b vis-à-vis 15.1b realized in 2011, Ceylon Tea Brokers PLC said.