A BAD TIME FOR TEA
Sri Lankan tea is losing market share in Russia due to domestic brands gaining ground, a research report warns.
Although Russia’s World Trade Organization obligations to Sri Lanka regarding duty reductions on value-added teas were met by the end of last year, concerns have arisen as to whether changes in crude oil prices would further impact sales.
Sri Lankan teas have reportedly lost out to brands from countries such as Indonesia, South Korea, Kenya, India, Vietnam and China.