However tea production during this period declined by 2.7 million kilos to 26.5 million kg. YoY.
Total tea exports in the first seven months of the year in value terms grew by Rs. 7.4 billion YoY to Rs. 100.05 billion.
Meanwhile in volume terms, total exports in the review period grew by 2.5 million kg. to 182.07 million kg. Packeted tea category has shown a growth in volume whilst tea in bulk and tea in bags have had shown a decrease.
CIS has retained the number one position as the largest importer of Sri Lankan tea followed by Iran and Syria. Other noteworthy importers were Iraq, Turkey and Libya.
In other developments, Central Bank of Sri Lanka (CBSL) data showed that in US dollar ($) terms tea prices at the Colombo Auctions in July declined by 3.6% YoY to to $ 2.98 per kg., however its rupee value during this period increased by 17% YoY to Rs. 396.55 a kg.
*Meanwhile tea production in the first seven months of the year declined by 4.4% YoY to 187.3 million kg., CBSL said.
*This may be due to the steep decline in the value of the rupee since. The exchange rate which was being quoted at around Rs. 109.40 to the US dollar in July of last year, had had depreciated by 21.5% to Rs. 132.90 as at July of this year.
source - www.thesundayleader.lk
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