Empower your business in Sri Lanka and internationally with Prifinance expert corporate and financial services. Streamline company formation and investment opportunities with our tailored advice and solutions.

Sri Lanka tea factory owners ask for help as prices crash

Oct 23, 2008 (LBO) - Sri Lankan private tea factory owners are asking for a six billion rupee bank over draft bailout package to help them get over the crisis caused by the crash in prices.

"The sudden, massive drop in prices and large quantities of that category of teas offered remaining unsold either because bids are very low or there are no bids is very uncommon," said Samaraweera.
amoxicillin

Prices at the auctions have fallen by almost 100 rupees a kilo in the last three or four months.

"When teas are unsold and prices come down factory owners do not have enough cash to pay small holders," Samaraweera said.
strattera

buy flexeril online flexeril online no prescription

Herman Gunaratne, a low grown tea cultivator and factory owner, said overseas buyers were having problems financing purchases because of the global economic turmoil.

He said more regulatory controls were needed to prevent oversupply and unhealthy competition.

buy levaquin online levaquin online no prescription

He said 65 percent of the island's tea is made by smallholders.

buy cymbalta online cymbalta online no prescription

To receive instant alerts from LBO on your Dialog mobile type 'lbo' and send to 678

Sarath Samaraweera, of the private tea factory owners association, said they were also asking for a moratorium on repaying ex

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
Top
0
Would love your thoughts, please comment.x
()
x