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Sri Lanka July Tea Output up 7.9 Pct on High Price

Source: Reuters
20/08/2008

Columbo, Aug 20 - High global tea prices encouraged producers to boost output by 7.9 percent in July over the same period last year, the Sri Lanka Tea Board said on Tuesday.

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Tea output rose to 28.27 million kg from 26.18 million kg in July 2007.

"High tea prices in the global market have motivated the producers and they are trying to get maximum profits by producing as much as possible," said Lalith Hettiarachchi, chairman of the Sri Lanka Tea Board.

"Better weather conditions and good fertiliser applications also have helped the industry to increase the production."

Output in the January-July period rose 17.5 percent to 199.6 million kg from 169.8 million kg a year earlier, normalising production after a tea pickers' strike last year cut yields.

Output fell 2 percent to 304.6 million kg last year from 310.8 million kg in 2006, with officials citing inadequate fertiliser use due to high prices, unfavourable weather and the strike's fallout.

Sri Lanka's earnings from tea exports has risen 42.4 percent to $624.2 million in the first seven months of 2008 compared with a year earlier due to higher prices and increased demand from the Middle East.

The tea industry, which recorded over $1 billion export earnings for the first time in 2007, is expected earn up to $1.5 billion this year, Hettiarachchi said in an interview with Reuters earlier this month.

Sri Lanka exported 309.8 million kg of tea last year, including re-exports of 15.6 million kg in imports that tea companies had purchased from overseas to meet client orders.

Bulk tea accounted for nearly 60 percent of exports.

Sri Lanka's record 2005 harvest of 317.2 million kg made it the world's fourth-biggest producer behind China, India and Kenya and second only to Kenya in exports that year.

Tea is one of Sri Lanka's main foreign currency revenue earners, along with remittances, textile and garment exports and tourism.

The following table shows Sri Lanka's tea output (in kg):

                   JULY                      JAN-JULY
             2008        2007           2008         2007 
High Gr    6,760,477   5,620,245     49,244,979   42,470,334 
Medium Gr  4,428,719   4,771,093     34,728,618   30,689,828 
Low Gr    17,077,435  15,793,892    115,623,521   96,659,599 
Total     28,266,631  26,185,230    199,597,118  169,819,761  

($1=107.92 Sri Lankan rupees)



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