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Asian Tribune is published by World Institute For Asian Studies|Powered by WIAS Vol. 12 No. 2679

Sri Lankan tea exports to soar past one billion dollar mark this year

Colombo, 16 April, (Asiantribune.com): The rise in demand for Sri Lankan black tea from Russia, Iran and Libya is likely to push tea exports from the island country to well over one billion dollars in value terms this year once again.

Sri Lanka's tea exports is likely to grow by a further 15 per cent for 2008, against the landmark billion dollar mark in 2007, Colombo Tea Traders' Association (CTTA) Chairman Tyeab Akberally said. He said the estimation follows increased demand for Sri Lanka's orthodox tea from Libya, Iran, Russia and the CIS States.

Akberally is also a director of premium family tea exporting company Akbar Brothers Ltd, which accounts for 14 per cent of the national tea exports, according to latest reports.

The employment potential would be over 1. 2 million in the country's tea sector including cultivation, picking, processing, transportation, handling, shipping and administrative.

The demand for Sri Lankan orthodox tea was high last year, Akberally said, adding that the competition was posed by Vietnam that produced similar variety of tea.

Sri Lanka produced 304.6 million kg of tea during 2007. The total acreage of tea under cultivation in the country stood at 2.21 million in 14 administrative districts and the sector has created more than 1. 2 million, direct and indirect employment opportunities.

- Asian Tribune -

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