Category: Agriculture

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 […]

May 06, 2011 (LBO) – Sri Lankan tea prices fell for the second week at the Colombo auctions with brokers warning that surging crops and a drop in quality could reduce prices further and bring down earnings of producers. “Overall a lower market,” Forbes & Walker Tea Brokers said in a report. “Auction offerings were […]

May 04, 2011 (LBO) – Sri Lanka has launched new logos for Ceylon tea to protect the island’s best known brand under the Geographical Indicators (GI) international trade regime and promote it as ozone friendly. The 1.5 billion US dollar Ceylon tea industry aims to use the new logos to market the tea as a […]

May 02, 2011 (LBO) – Sri Lanka’s Talawakelle Tea Estates said March 2011 quarter net profit rose nine percent to 72 million rupees from a year ago with lower tea earnings offset by gains from rubber and hydro power. Profits from mini-hydro power soared 319 percent to 29 million rupees during the quarter from seven […]

Apr 29, 2011 (LBO) – Larger crops following heavy rain and a drop in quality dragged down Sri Lankan tea prices at this week’s Colombo auction although the biggest harvest has eliminated a crop deficit, brokers said. “There was fair general demand mostly at lower levels for Low Grown varieties at this week™s auction,” Asia […]

Apr 28, 2011 (LBO) – Sri Lanka is to get Indian aid to revive and expand a fish net factory in the northern Jaffna peninsula where fishing is a key economic activity under efforts to help fishermen resume their livelihood. The Northsea factory at Gurunagar was damaged during the island’s 30-year ethnic war which ended […]

Apr 27, 2011 (LBO) – Sri Lanka’s commerce and industry ministry has allocated funds to register ‘Ceylon tea’ under the global geographical indicators (GI) trade regime that will better protect the island’s best known brand. Registration under the GI will prevent abuse of the Ceylon tea brand, government officials have said. The commerce and industry […]

Apr 21, 2011 (LBO) – Sri Lankan tea prices were firm at this week’s auction with brokers saying Libya had resumed buying and global prices seen staying high this year owing to lower production and growing demand. Despite the large volume of teas from plantation company estates on offer and “somewhat lower” quality prices were […]

Apr 08, 2011 (LBO) – Sri Lankan tea prices fell at this week’s Colombo auction as turmoil in the Middle East, one of the main importing regions, affected shipments and payments, brokers said. All three elevations, high, medium and low have seen increases of 27.0, 20.45 and 7.28 rupees over last year. Prices of low […]

Mar 30, 2011 (LBO) – India and Sri Lanka have agreed not to use force on fishermen who break the law regularly by poaching in each other’s waters after illegally crossing the maritime boundary. They also agreed that representative of each nation’s fishing community, whose illegal cross-border forays for poaching have become a diplomatic issue, […]