Iran’s Sri Lanka Tea imports under tea-for-oil barter system

Photo- Ceylon Tea Board.
Sri Lanka Tea Board president Niraj de Mel told reporters that Iranian tea importers have proposed to increase shipments from the island nation from $5 million to around $10 million during winters.
Iranian tea importers have proposed to increase the tea imports from Sri Lanka under the tea-for-oil barter mechanism, according to the Sri Lanka Tea Board (SLTB).
SLTB president Niraj de Mel told media that tea exported from Sri Lanka to Iran was capped at $5 million per month under the Iranian tea-for-oil barter mechanism.
However, due to the expected increased demand for tea in Iran over the coming months, the importers asked the SLTB to consider increasing tea exports to at least $ 10 million.
“A request was made [to increase the monthly tea exports to Iran] by the Iranian side through their organisation that coordinates this arrangement by issuing licences to Iranian tea importers. I believe the request has gone through the Iranian Embassy,” de Mel stated.
He told reporters that he was also involved in discussions with the Minister of Power and Energy and officials of the Iranian Embassy where he made the request.
The SLTB president also said that he has also passed the request to the Chairman of the Ceylon Petroleum Corporation (CPC), who assured him they will look into the possibility of increasing their payments to the tea board.
The SLTB chief also pointed out that the request had been made in January when the demand for tea in Iran was high due to winter season. Demand is likely to increase during the third week of March when Iran will be celebrating its New Year.
Apart from this, the tea consumption in Iran is expected to increase during the Ramadan fast which would commence from March 11.
Source- sputniknews.in, 11 February, 2024. (Original heading – Iran’s Tea Importers Seek to Increase Imports From Sri Lanka Under Barter Mechanism)
By Rahul Trivedi

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