Iranian sanctions and demand for Sri Lankan tea

Iranian sanctions and demand for Sri Lankan tea

Written by Staff Writer

20 Sep, 2018 | 2:32 pm

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.

 

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