Business

Sri Lanka’s Tea Exports Drop 6.2% in July 2024, But FOB Value Rises

  • August 20, 2024

Sri Lanka’s tea exports in July 2024 totaled 21.35 million kilogrammes, marking a 6.2% year-on-year decline. While bulk and packeted tea exports showed negative variances, tea bags recorded a marginal gain compared to July 2023. The FOB value for July 2024 increased to Rs.1,773.70, up Rs.158.39 from the previous year. From January to July 2024,

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Economics

Tea Exports Cover $60M of Sri Lanka’s Fuel Debt to Iran

  • July 16, 2024

The Sri Lanka Tea Board announced that exports of Ceylon Tea have successfully offset $60 million of the country’s fuel bill owed to Iran. Since 2011, Sri Lanka had accumulated arrears of $251 million for fuel imports from Iran. Chairman Niraj De Mel noted that this settlement was achieved as tea exports to Iran tripled

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