AgricultureTackling tea travails
Industry calls for higher productivity, new market development to
ride out uncertainties
Tea industry stakeholders say the industry needs to urgently improve productivity and generate new markets, as volatility in major Middle Eastern markets continue to dampen tea export earnings.
While there is strong demand for tea in global markets, price increases for Ceylon Tea, to compensate for increased cost of production is seen as unlikely, as uncertainty in Middle Eastern countries, that account for a majority of Ceylon Tea exports, continues to cloud industry earning prospects for the year.
Orient Leasing modernises farming community in Kilinochchi
Orient Financial Services Corporation Ltd. has launched a community-based lending activity in Kilinochchi in order to uplift livelihood of farmers.
Following the restoration of peace in the north, the company has identified its priorities in emerging economies and its sectors.
Colombo International Tea Convention promotes ExclusiviTea of Ceylon Tea
As one of the top producers and exporters of tea, Sri Lanka proudly hosted the Colombo International Tea Convention which was the first international tea convention to be held in the island during peace time.
Good demand at tea auctions this week
The 11th sale of the year which was concluded on 14 March had on offer 6.8m/Kgs. There was good demand.
Ex-Estate offerings showed a marginal increase and totalled 1.2m/Kgs. The quality of teas from the Western planting districts were irregular and barely maintained, whilst, teas from other planting districts showed no significant change.
Rs. 17 m worth new paddy stores open in Trinco
Minister of Economic Development Basil Rajapaksa declared opened paddy stores in Nelsonpura in Trincomalee District on 29 February 2012.
The ‘Reawakening of the East’ project under the Ministry of Economic Development has provided funding to build six paddy stores in Nelsonpura and Jamaliya in Trincomalee District.
Touchwood steered by corporate stalwart towards greater successes
Rienzi Wijetilleke, one of Sri Lanka’s most eminent corporate personalities recently assumed office as the Chairman of the agro-forestry management company, Touchwood.
World drinks more tea, FAO predicts strong price
MILAN (Reuters): World tea prices are set to be firm this year on the back of robust black tea demand exceeding demand, the United Nations’ Food and Agriculture Organisation (FAO) said on Wednesday.
“High prices reflect the fact that demand for black tea, which accounts for most of world production, has exceeded supply since 2009,” the FAO said in a statement citing a report by its intergovernmental group on tea.
Tea auctions this week: Volume down, demand better
Overall auction quantities declined to a seven m/kgs this week. There was good demand with most teas on offer selling at firm to dearer rates.
The seasonal teas from the Western High Growns attracted airmail enquiry on a wider cross section of teas this week. Others together with the Low Growns witnessed a firm to dearer trend which could be attributed to a great extent, to the weakening of the SLR.
Rs. 28.5 b to purchase paddy in Maha season 2011/2012
On a proposal made by President Mahinda Rajapaksa in his capacity as the Minister of Finance and Planning, Cabinet has decided to make available Rs. 28.5 billion as pledge loan to the Paddy Marketing Board, District Secretaries, Cooperative Societies and the private sector to purchase paddy from the farmers during 2011/2012 Maha season.
SWITCH-Asia Food & Beverages Project: Success stories unveiled
SWITCH-Asia Food & Beverages Project of the Ceylon Chamber of Commerce held a mini symposium on ‘Sustainable Consumption & Production’ recently.
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