Sri Lanka’s tea industry sees modest recovery as auction offerings cross 6 million kg

By  News On Air   Nov 09, 2024

Sri Lanka’s tea industry saw a modest recovery this week as auction offerings crossed the 6 million kilogram mark for the first time in five months, marking a hopeful yet cautious step forward.

Low Growns, comprising the bulk of offerings at 2.5 million kilograms, showed mixed performance, with high-quality leafy teas holding firm but lesser grades struggling to attract buyers. It was reported that the overall quality of tea showed a higher availability of fair average quality tea, and many varieties saw a decline due to variable quality.

Tea exports are essential to Sri Lanka’s economy, providing employment and supporting rural development. The country’s signature Ceylon tea, particularly popular in markets like the UK, Europe, and Japan, helps bolster foreign exchange reserves amid economic challenges. Despite less activity from some Western buyers, selective interest from regions like Japan and China remained steady.