Dec 24, Colombo: Sri Lanka has achieved an all-time record high income of Rs. 213.9 billion (US$ 1.4 billion) from tea exports in the first eleven months of this year up by 27% from last year despite a marginal decrease of 0.43% in export volumes.

According to Siyaka weekly tea update total sales of tea until 16th December recorded Rs. 290.7 billion (US$ 1.9 billion).

Sri Lanka exported 23.6 million kilograms (Mnkg) in November this year, 16% more from last year's low drought restricted figure of 20.4 Mnkg. However, the November quantity is the lowest since the May figure of 24.3 Mnkg.

Exports for the period January - November 2017 have reached 265 Mnkg; a figure even lower than last year's drought restricted quantity of 266.1 Mnkg. The figure is the lowest since 2000.

Rupee earnings in the first 11 months of 2017 are at a record high of Rs. 213.8 billion; approximately US Dollar $ 1.4 billion. These earnings convert to an approximate FOB value of a highest ever $ 5.29 per kg and a record Rupee value of Rs. 807.12 per kg.

Sri Lanka exported 57% of all teas in value added form, a proportion equal to last year. Contributing to the value added segment Packet Tea comprised 46%, Tea Bags 8%, instant tea 1% and Green Tea 2%.

Tea markets last week held firm subject to minor seasonal changes; despite a temporary ban on imports by Sri Lanka’s prime export market, Russia, Siyaka said in its weekly report for Dec 11-16.