Sri Lanka's tea exports down to 5.5% in FY 2023

 

Sri Lanka is a beautiful picturesque country known for producing quality tea from ancient times. Sri Lanka’s Ceylon tea is quite popular among the global market. Before the economic crisis, Sri Lanka was the third leading exporter of tea. But the financial crisis has impacted its tea sales. Through foreign aid, beneficial policy, Sri Lanka tea exports market is now reviving. 

According to the Sri Lanka import export data reports, the country's tea exports showed an increase of 4.8% this year. During this financial year, Sri Lanka's tea exports were recorded to be $2.2 billion dollars. Although the tea exports during December were down to 5.5%. The topmost tea exports from Sri Lanka includes black tea (Iced tea, partly fermented tea), green tea, green coffee extracts, etc.

Iraq and Russia are the top importers of tea globally in which Sri Lanka has exported the maximum number of tea shipments. Sri Lanka export data shows Iraq and Russia as the leading supplier of tea in the global market accounting for 11% and 9% market share respectively. Turkey and UAE were responsible for 8.6% and 8.5% of Sri Lanka's tea exports. 

The fastest growing markets for Sri Lankan tea were Iran, China, Azerbaijan, Libya, Saudi Arabia and the United States. Akbar Brothers was the biggest tea export company from Sri Lanka. Akbar Brothers has exported around $139 million worth of tea shipments during FY 2023. Empire Tea, Dilmah Ceylon Tea and Uniworld Teas were the leading tea export companies from Sri Lanka in 2023.

Kuban Tea from Russia, AKFT LLC from Iraq, and Mabroc International were the top tea importing companies from Sri Lanka during 2023. In terms of imports, Sri Lanka was responsible for over $22 million worth of tea during FY 2023. As per Sri Lanka import data reports, India and China were the most favoured destinations by Sri Lanka for tea imports. 

India and China exported around $8.4 million and $7.47 million worth of tea to Sri Lanka during 2023. Kenya was the third biggest tea supplier to Sri Lanka with 33% market share. Also, the noticeable amount of tea imports were seen from Japan, United Kingdom, Iran, Germany, United Arab Emirates, Egypt and Syria.

Akbar Brothers Exports and Empire Teas were the top tea importing companies from Sri Lanka responsible for over 20% share. Goodricke Tea from India and Riantea from China were the top tea suppliers to Sri Lanka accounting for over 23% market share.

Those who are looking to establish their brand presence beyond Sri Lanka can switch to the global import export data provider. Through accurate global trade information on tea and other other agricultural goods could assist you in identifying demand, make better pricing, find top marketplaces, international buyers and track competition. It provides you real time access to the international buyers trading activity.

Based on those metrics, you can determine better marketing strategy to lure your business prospects & deliver more qualifying sales. Trade Intelligence tools are the best way through which Sri Lankan companies can make better decisions and expand their import export business beyond boundaries.