Tea export earnings down to lowest over the last five years

The Island: Asia Siyaka Tea Brokers reported last week that their Customs analysis findings were that the Sri Lankan tea industry was in crisis. Comparing year – on - year performances, deputy chairman Asia Siyaka Tea Brokers Anil Cooke said that the market drop was substantial.

US dollar earnings dropped to 562 million from January to May 2015. Last year’s comparative earnings over the same period were $ 650 million. Decline quantum for US dollar earnings was 13 . 5 percent.

Rupee value on exports, according to Customs data released was that at the end of May 2015 the value was Rs. 74 billion. The recorded deficit was quite substantial. Further Customs data revealed that last year, over the same period, earnings recorded were Rs. 84 billion, recording a deficit of Rs. 10 billion.