Sri Lanka’s tea industry saw growth in production, exports, and national average in 2024 compared to the previous year.
Tea export revenue from January to December 2024 rose to Rs. 433.47 billion (USD 1.43 billion), up from Rs. 428.29 billion (USD 1.31 billion) in 2023.
This reflects an increase of Rs. 5.18 billion and USD 127.15 million. While packeted teas recorded a decrease in FOB value, bulk tea exports saw an increase.
Total tea exports for 2024 reached 245.79 million kg, up from 241.91 million kg in 2023.
The FOB average price per kilo stood at Rs. 1,763.61 (USD 5.84), slightly lower in rupee terms but higher in dollar value compared to the previous year.
Iraq emerged as the top importer of Sri Lankan tea, followed by Russia and the UAE.
Despite strong demand from key markets, macroeconomic challenges such as currency fluctuations, supply and demand shifts, and political instability in importing countries continued to impact the industry.
Globally, China remains the largest tea producer, with consistent growth from 2019 to 2023, reaching 3,339.48 million kg in 2023.
India’s tea production remained stable with minor fluctuations, while Kenya experienced moderate variations, with a significant rise in 2020.
Kenya also leads the global tea export market, consistently surpassing other countries in export volume.
Meanwhile, Pakistan remains the largest tea importer, while Russia has seen a steady decline in tea imports over the years.
