Economics

Oversupply Pressures Ceylon Grain Elevators’ Profits in Q2

  • August 9, 2024

Ceylon Grain Elevators PLC (CGE), Sri Lanka’s leading poultry producer, reported a decline in both revenue and profit for the second quarter of 2024 due to an oversupply of chicken, which led to lower prices and reduced volumes. Despite this, demand for feed and Layer Day Old Chicks (DOCs) remained stable, supported by consistent demand

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Markets

Animal Production Association Urges Government to Reconsider Egg Tax

  • July 2, 2024

Sri Lanka Animal Production Association President Ajith Gunasekara has called on the Government to reconsider the 20.5% tax on eggs, a perishable item, to address the escalating food prices in the country. Gunasekara highlighted that the 18% Value Added Tax (VAT) and 2.5% Social Security Levy have significantly increased egg prices. “Currently, supermarket eggs are

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