News Room

Colombo 19th May 2005. John Keells Limited announced today that Sri Lanka�s net tea exports are on par with the country�s net apparel exports. This was one of the findings reported in its recently published study of the country�s internationally renowned tea industry titled �Tea Review 2004�.

The report goes on to state that although the Government recognized the importance of Agriculture in its annual budget process, fiscal levies are pushing the plantations to non-viability. Multilateral donor funding too has not reached the plantations adequately. In spite of these challenges, the plantations sector continues as a significant contributor to job creation.

It has also been found that "Ceylon Tea" is the world�s best and cleanest. Tea production has increased to 308 million kilograms per year and average tea prices reached Rs. 180.74 per kg. Export earnings had increased to over Rs. 54 billion. Last year also saw tea exports passing the 300 million kilogram mark. The Low grown teas had enjoyed a record harvest that stood at over 183.9 million kilograms. The CIS remained Sri Lanka�s largest export market and Ceylon Tea averaged the highest price in the world market.

Commenting on the publication at the presentation ceremony, Mr. Niraj De Mel, Chairman of the Tea Board stated, �John Keells Limited should be congratulated for researching and publishing this useful industry booklet�.

John Keells Limited
John Keells Ltd, the leading Produce broker in the country, has a history dating back 135 years. Over the years, the business portfolio has often changed with the nationalisation and privatisation of sectors. Perennial crops, however, were continued to be handled. Today, the core business of the company includes Tea and Rubber broking. John Keells Ltd. has the largest market share among the Tea brokers. The company is the industry leader in business ethics. John Keells Ltd. was awarded the Best broker award by the Colombo Tea Traders Association. The company also has the highest price average and obtains a premium over the national price average.

Corporate Contact
Mr. Sudath Munasinghe
John Keells Limited
130 Glennie Street
Colombo 02, Sri Lanka.
Telephone : +94 (0) 112 306 502 / 449 254
Facsimile : +94 (0) 112 446 210
Website : www.johnkeellstea.com
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