Iranian sanctions and demand for Sri Lankan tea

COLOMBO (News 1st) - The Central Bank of Sri Lanka is holding a series of round-table discussions on selling Sri Lankan Tea as Iran has been slapped with further sanctions. Iran is a key buyer of Sri Lankan Tea, Coconuts, Rubber, and other agricultural products. Chairman of the Sri Lanka Tea Board, Lucille Wijewardena stated that 9% of Sri Lankan Tea Exports are being sent to Iran. He stated that this coupled with currency depreciation in Russia and Turkey had led to a temporary drop in demand for Sri Lankan tea. At the round-table discussions, attention will be drawn towards obtaining a separate product from Iran for the tea sold to them, which can later be converted into liquid cash.