Business

Sri Lanka’s Planters’ Association Celebrates 170 Years of Service to the Plantation Industry

Sri Lanka’s Planters’ Association (PA), representing the managers of the island’s commercial farms growing tea, rubber, coconut, and palm oil, is celebrating its 170th anniversary this year. Founded in 1854, the PA is one of Sri Lanka’s oldest institutions, dedicated to representing and safeguarding the interests of the plantation sector. Known for producing Pure Ceylon

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Economics

Sri Lanka on La Niña Watch: Potential Threat to 2025 Maha Rice Crop

Sri Lanka is on alert for potential La Niña conditions, which could result in below-average rainfall from October 2024, posing a risk to the 2025 Maha rice crop, according to weather forecasters. While El Niño typically brings strong inter-monsoon rains and boosts rice harvests, the cooling effects of La Niña in the Southern Pacific Ocean

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Industry Analysis

Sri Lanka to Expand Rubber Plantations by 100,000 Acres in Three Districts

The Ministry of Agriculture and Plantation Industries has unveiled a master plan to expand rubber cultivation in Sri Lanka, aiming to increase the country’s annual natural rubber production by 60 percent in the coming years. Minister of Agriculture and Plantation Industry, Mr. Mahinda Amaraweera, announced plans to initiate rubber cultivation across 100,000 acres in the

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Business

Sri Lanka to Cultivate Hybrid Durian Varieties for Export Expansion

Sri Lanka is set to grow 20,000 durian plants of two hybrid varieties aimed at boosting export opportunities, announced Agriculture Minister Mahinda Amaraweera. The two selected varieties, Ambathanna and Kasun, are known for their high yield and rapid growth. “These hybrid durians are productive and well-suited for cultivation in average land conditions,” Amaraweera stated on

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Investing

Bingiriya Investment Zone to Generate $2.6 Billion in Export Income

The completion of the Bingiriya Investment Zone is projected to generate $2.6 billion in export income and create 75,000 job opportunities, stated President Ranil Wickremesinghe during the inauguration ceremony of the second and third phases of the Export Processing Zone in Bingiriya. He emphasized ongoing efforts to establish new investment zones to further bolster the

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Economics

Government Allocates Rs. 100 Million Compensation Fund for Flood-Stricken Farmers

In response to the widespread devastation caused by recent flooding, the Sri Lankan government has announced a compensation fund of Rs. 100 million to aid farmers affected by crop damage. Agriculture and Plantation Industries Minister Mahinda Amaraweera confirmed the allocation, emphasizing the government’s commitment to supporting those impacted by natural disasters. Approximately 15,000 acres of

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Business

Sri Lanka to Boost Exports of Toddy, Kithul, Palm and Coconut Products

Sri Lanka’s government is set to remove obstacles hindering the production and export of toddy, kithul, palm and coconut products, aiming to tap into a large overseas market for these goods. The move comes after a meeting of the Sectoral Oversight Committee on National Economic and Physical Plans, chaired by Mahindananda Aluthgamage. The Committee identified

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Economics

Expert Panel in Sri Lanka Reviews RPC Land Lease; Minister Calls for Action

A panel of experts appointed by the Sri Lankan government is currently scrutinizing lease agreements with Regional Plantation Companies (RPCs), announced Minister of Estate Infrastructure Development Jeevan Thondaman. Thondaman, known for his criticism of RPCs regarding their resistance to paying the latest daily wage of 1,700 rupees per tea plucker, emphasized the need for action

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