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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Lanka, the best tea export centre

Lanka, the best tea export centre

3 posters

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1Lanka, the best tea export centre Empty Lanka, the best tea export centre Sun Jun 26, 2011 9:41 am

Lucas

Lucas
Equity Analytic
Equity Analytic

Sri Lanka is the best export centre for tea in terms of speed of delivery and services, said Chairman, HVA Group, Rohan Fernando.

He said the Rs. 1 billion Pure Ceylon Tea promotional fund set up this year will be a huge boost to tea exports with more awareness and demand for Ceylon Tea in the global market.

The Government set up the tea promotional fund to support indigenous brand builders and stimulate growth in exports. Tea export revenue last year was around US$ 1.3 billion and according to experts revenue this year is expected to reach around US$ 1.5 billion.

Experts said that money from the tea Cess Fund was not ploughed back to the industry and as a result adequate promotional activities were not there. The fund provided around Rs. 35 million for brand building.

Fernando said achieving US $ 1.5 billion export revenue from tea this year is not a difficult task provided there is sound marketing and adequate promotion of the Ceylon Tea brand in the world market."Sri Lanka has the potential to be a powerful player in tea exports with a US$ 5 billion market share in the next five years.Increase in value added exports and sound policies are crucial to garner a higher market share in global tea exports", he said.

The world tea export market is 1.5 billion kilograms of which Sri Lanka contributes around 300 million kg each year accounting for around 18 percent of the global market share.

Sri Lanka’s value added tea exports is around 35 percent of which around 20 percent comprises locally registered brands. A larger portion of Sri Lanka tea exports is yet in bulk form.

Experts opine that with improvement to processing and packaging technology and incentives to producers and exporters tea production and export income should increase substantially.

Sri Lanka is the world’s second largest tea exporter with nearly 90 percent of the production being exported.Until recently Sri Lanka used to be the largest exporter in the world. However, in recent times the country has faced stiff competition in retaining its position as the main source of orthodox black tea in the world.

Tea exporters fear that the Libyan crisis could have a crippling impact on export volumes that might decline sharply with less demand from the region. Experts are of the view that oil prices will surge into unprecedented levels if there is no early solution to the crisis in the Middle East.

“There are some ripples of the Libyan crisis on tea exports with disruption to port activities and financial transactions in the country”, Fernando said.

Tea consumption in the world has always been high and it has withstood all storms as a popular health beverage. Tea is consumed today in various flavours produced at varying elevations and climates across the globe.

China, India, Kenya, Sri Lanka and Vietnam are the top tea producing countries. China produced around 1,358.6 million kgs of tea in 2009. Tea production in Sri Lanka in 2009 was 289.7 million kgs.

Fernando said tea production depends on global prices and the weather. Tea production in Sri Lanka dropped by around nine percent in 2009 due to unfavourable and work stoppages by estate workers.

Labour strikes and unrealistic wage increases could stifle tea production and hamper growth in the industry. Wage increases should be in relation to production to achieve a win win situation in the industry.

Fernando said unlike in the past there is dignity of labour today. Improvement to housing, healthcare, education, transportation and incentives for workers are better than before.

2Lanka, the best tea export centre Empty Re: Lanka, the best tea export centre Sun Jun 26, 2011 11:19 am

mark

mark
Expert
Expert

ha ha,nice to see a post from you,only see you in chatbox ne Very Happy

HVA was shoot up after the IPO,which was not supported to its bases,so those shares should come down gradually to their inherited levels.HVA may affected by wage hike,also their last qtr profits are not good at all,it dont supports the current price...
will see their future Cool

3Lanka, the best tea export centre Empty Re: Lanka, the best tea export centre Sun Jun 26, 2011 11:10 pm

rijayasooriya

rijayasooriya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Even during the period of IPO there was a rumour that this share is not worth for Rs16/=
But it went really up on 1st day of trading.I think that was mainly due to bull run in the market during that period and it came following Singer Finance IPO.

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