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| Tuesday, 13 July 2004 |
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Tea exports net Rs. 27.9 b in five months by Steve A. Morrell Tea exports to end May 2004 have earned Rs. 27.9 billion recording an increase of 12.5% compared to the same period last year. According to Customs data these earnings were from export quantities of 119 million kilos, which also was an increase of 5% compared to production achieved in 2003. The quantity shipped from January to May 2003 was approximately 113 million kilos at an export value of Rs. 24.9 Billion. Brokers said the increase in export volumes this year, coupled with the increase in value per kilo of tea sold was quite extraordinary particularly because of the drought which influenced a dip in crop intakes early January/February which did not have an adverse influence on harvests. The end June results continued to indicate salutary progress realising total consolidated sales of approximately 150 million kilos, they said. All expectations were that the plantation industry would face another El-Nino year because of the severity of the spring drought, but the rains staved -off disaster. (The last El Nino syndrome was experienced in 1982/1983 when the plantation crops were in danger of devastation. At that time too, the weather changed, but artificial methods were adopted to precipitate rainy conditions through seeding of the cloud cover). At the auctions last week 6.3 million kilos were sold in 9,063 lots. All elevations recorded price increases, but plantation sources said that with the onset of the Uva season costs would escalate and the likelihood of good prices would be nullified because of the cost factor. The usual weather patterns were that the drought in Uva at this time of the year caused extreme dryness in the air, and coupled with heat and dry winds badly affected crop, and yields could come down drastically to 10 kilos per hectare, they said. This had debilitating effects on price gains which may not be quite that easy to recoup. Brokers said that with the onset of the Uva quality season the plantations could look forward to good prices. They agreed that costs would be high but this was not an unplanned phenomenon and was a condition which was handled as routine annually. Of the western mediums Kenilworth and Vellaioya continued to fetch Rs. 250 per kilo for BOP, and Rs. 186 per kilo for BOPF. Bogowana Estate selling under the Bridwel tea mark add at top prices for BOP and BOPF at Rs. 228 and Rs. 230 per kilo, and Moray at Rs. 230 per kilo. Mahagastota and Court lodge estate teas also fetched good prices. In Uva, Dickwella and Uva Highlands were the top gainers. The Brokers said that demand was good all round. Russia, UAE, Turkey, Iran, Jordan and Iraq continue to support Sri Lanka's tea, Russia/CIS countries imported 30.7 million kilos to end May, who were the main importers, followed by UAE and other countries. |
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