Sri Lankan tea exports earned $1.3bn in 2021
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Sri Lankan tea exports in 2021 earned $1.3 billion despite lower yields and higher costs of production, state media reported on Thursday.
Chairman of the Sri Lanka Tea Board Jayampathy Molligoda was quoted by the state-owned Daily News as saying that the island nation earned approximately $1.3 billion from the export of 288 million kilos of tea, reports Xinhua news agency.
Molligoda said the cost of production of Sri Lankan tea is among the highest in the global market and tea production peaked in 2013 and has declined since then.
He said auction prices in Kenya and India are cheaper than in Colombo.
The chairman said Sri Lanka needs to "focus more on the front end of the value chain" by marketing the clean, sustainable and wellness aspects of Ceylon Tea.
Tea is Sri Lanka's top agricultural export and accounted for 10.9 per cent of total merchandise export revenue in 2021.
