Category: Agriculture

May 30, 2011 (LBO) – Sri Lanka’s CIC Holdings group said net profit for the financial year to March 2011 rose 58 percent to 929 million rupees from a year ago driven mainly by its agriculture and livestock business. Sales rose 27 percent to 21 billion rupees, the company said in a stock exchange filing. […]

May 27, 2011 (LBO) – Sri Lanka has told a regional fish management body that it is cracking down on illegal fishing that is seen hurting efforts to prevent over-exploitation of fish stocks and conservation. The crackdown comes in the wake of concern that illegal fishing hurt management measures aimed at controlling and monitoring fish […]

May 24, 2011 (LBO) – Sri Lanka’s listed Watawala Plantations said profits rose 49. 6 percent to 642 million rupees in the year to March 2011 with revenues growing 9.0 percent amid higher commodity prices and profits from its retail unit. Managing director Vish Govindasamy said higher rubber prices pushed profits from the division to […]

May 24, 2011 (LBO) – Sri Lankan tea production is increasing despite a downturn in April compared with a year ago with annual output expected to hit a new high. Tea production fell 5.6 percent to 28.5 million kilos in April from a year ago when output had been boosted by favourable weather and high […]

May 20, 2011 (LBO) – Sri Lanka’s Tea Board aims to hire an international agency for global surveillance of the island’s Ceylon tea brand under the ‘Lion’ logo to prevent its misuse and sale of counterfeits, an official said. The planned action comes in the wake of the island launching new logos for Ceylon tea […]

May 19, 2011 (LBO) – The United States Agency for International Development (USAID) is giving a 1. 5 million grant under its Food for Peace (FFP) programme to help more than 22,000 flood victims in eastern Sri Lanka. Under the programme the US development agency will assist flood victims by paying them to repair small-scale […]

May 16, 2011 (LBO) – High rubber prices have helped Sri Lanka’s Kelani Valley Plantations increase March 2011 quarter net profit by 120 percent to 246 million rupees from a year ago. Earnings per share for the March 2011 quarter were 7. 24 rupees compared with 3.29 rupees the previous year. Sales of the firm, […]

May 13, 2011 (LBO) – Sri Lankan tea prices fell at the Colombo auctions this week mostly because of lower quality and larger volumes in some categories and while trouble in the Middle East also had some effect, brokers said. “Until such time normalcy returns to the Middle East, it is unlikely that Low Grown […]

May 13, 2011 (LBO) – Sri Lanka, the world’s biggest exporters of cinnamon, needs 10,000 more peelers to overcome an acute shortage of labour, members of the trade have told the ministry of industry and commerce. Of the 30,000 hectares of cinnamon grown in Sri Lanka, only one-fifth are peeled twice a year with 70 […]

May 11, 2011 (LBO) – Sri Lanka’s Three Acre Farms said March 2011 quarter group net profit was 41 million rupees compared with just half-a-million rupees the year before although excess stocks forced it to cut prices. But there have been excess stocks in recent months after the government allowed chicken imports in the run […]

May 10, 2011 (LBO) – Sri Lankan poultry firm Ceylon Grain Elevators said March 2011 quarter net profit rose 64 percent to 94 million rupees from a year ago as gains from feed milling helped overcome high raw material prices. Sales grew 26 percent to 2.3 billion rupees during the quarter with earnings per share […]

May 08, 2011 (LBO) – Palm oil prices are likely to remain firm owing to growing demand from emerging markets like India and China, shareholders of Shalimar (Malay), a subsidiary of the Carson Cumbebatch group, have been told. Shalimar’s net profit for the financial year ending March 31, 2011 shot up 218 percent to 153 […]