Iran nuclear deal likely to put a damper on Sri Lankan tea exports?

COLOMBO (News 1st) - Tea exporters say the decision taken by the United States to unilaterally abandon the nuclear deal with Iran is likely to put a damper on Sri Lankan tea exports. Sri Lanka’s total tea production for the first quarter of 2018 stood at 74.23 million kilos, in comparison to 66.88 million kilos for the same period, last year. During the quarter, Sri Lanka exported 5.56 million kilograms, against 6.09 million kilograms during the same period last year.Sri Lankan tea exports to Iran fell 19% to 27.4 million kilos for the full year 2017, from the year before. During the first quarter of 2018, Iraq emerged as the number one market for Sri Lankan tea with exports of 6.61 million kilos, up from 7.47 million kilos during the same quarter last year. In second place was turkey with nine million kilos, up from 7.18 million kilos.