Sri Lanka targets over US$ 1.3 billion foreign exchange from tea exports

Sept 03, Colombo: Sri Lanka’s Plantation Ministry is planning to launch special programmes targeting more foreign exchange from tea exports next year, the state-run radio SLBC reported.

In the first quarter of 2011 Sri Lanka Tea business had 11.4% greater export revenues compared to same quarter last year exporting to 130 destinations, the Tea Board reported.

Sri Lanka sold 78.7 million kilograms of tea in first quarter of 2011, at an average price of US$ 3.6 per kg, the highest figure to be recorded in any single quarter, although the volume has decreased by 9.1 percent compared to the same period last year.

Sri Lanka exported an estimated 314 million kilograms of tea last year earning US$ 1.36 billion. The Ministry expects a similar income this year also.

The Ministry says new markets will be sought for Sri Lanka’s tea and the trade will be expanded to China and Japan.

The main target is to increase the foreign exchange from the export of tea up to about US$ 1.8 billion (200 billion rupees) by 2020, the Ministry said.

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