Aug 27, Colombo: Spices and Allied Products Producers' and Traders' Association (SAPPTA) states that 2008 will be a record breaking year for Sri Lanka clove exports which earned Rs. 3 billion exporting 5,000 metric tons.

According to SAPPTA, during January - June 2008, Sri Lanka has already exported 4,838 tones of cloves and should end up by the end of the year, exporting around 5,500 tonnes. Earnings from exports during January - June 2008 was Rs. 2.7 billion and for the year 2008, this figure should go past Rs. 3 billion.

“Exports of cloves from Sri Lanka have been mainly to India as Sri Lankan cloves enter India duty free under the Indo Sri Lanka Free Trade Agreement (ISFTA) as against a tariff of 27 to 35% applicable to other origins. Of the total exports from Sri Lanka, over 90% is exported to India and this trend will continue as long as the advantageous tariff continues to be made available to Sri Lanka,” explained SAPPTA sources.