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Sri Lanka targets US$ 3.5 billion through tea exports by 2030

Aug 14, 2019

Colombo (Sri Lanka) August 14: Sri Lanka is targeting 3.5 billion U.S. dollars through its tea exports by 2030 and a tea production of 350 million kg, according to the tea traders.
Michael de Soyza, a former chairman of the Colombo Tea Traders' Association (CTTA) said tea experts in the island had begun an initiative to increase tea exports and production as production had remained the same over the past several years.
"Our target is 350 million kilograms of tea production and 3.5 billion US dollars in exports," de Soyza said speaking at the 125th anniversary of the CTTA held in Colombo on Monday.
According to government data, Sri Lanka's tea production has remained at around 300 million kilograms over the past two decades, with a peak 340 million kilogram crop in 2013, as the country's tea growing land has remained unchanged.
Tea production in 2018 was 303.8 million kilograms, down from 307.1 million kilograms from a year earlier.
Sri Lanka's tea exports oscillated between US$ 1 - 1.63 billion from 2007 to 2018, with a peak US$ 1.63 billion in 2014.
Former Chairman of the Colombo Brokers' Association, Anil Cooke, speaking at the event said the 2030 program will create strategic pathways for the future of Sri Lanka's tea industry.
The Sri Lankan government last week said Sri Lanka's tea exports in the first half of this year has reached a record high of 121.8 billion rupees (682 million U.S. dollars), up 7 percent from the same period a year earlier.
Source: Colombo Page