Category: Agriculture
World Bank approves USD125mn credit to modernize Sri Lanka agriculture
June 30, 2016 (LBO) – The World Bank has approved a 125 million US dollars credit from the International Development Association to assist Sri Lanka in modernizing its agriculture sector. The project will be implemented through the Ministry of Primary Industries, the Ministry of Agriculture, and five participating provinces, including the Northern, Eastern, Central, North-Central […]
Ford partners and JEN to support 50 families in Kilinochchi
Ford Motor Company, represented in Sri Lanka by Future Automobiles, a subsidiary of Softlogic Holdings, has awarded a grant to JEN (Japan Emergency NGO) to carry out an agricultural livelihood project in Kilinochchi. Utilising the funding from Ford, JEN will be able to assist people who have returned from displacement regain their livelihood through agriculture. […]
‘s agriculture to be modernized with World Bank funding
May 26, 2016 (LBO) – Sri Lanka’s cabinet has approved implementation of a five-year Agriculture Sector Modernization Project with 125 million US dollars granted by the International Development Agency of the World Bank. “It is necessary to implement policies that aim on improving the productivity of agriculture and to create high valued export agriculture for […]
‘s north
May 18, 2016 (LBO) – Canada together with UNDP and FAO are working to strengthen agro economic cooperatives in the Northern Sri Lanka, with a specific focus on the districts of Jaffna, Killinochchi and Mullaitivu, a statement said. “The Government of Canada under a financial envelope of six million Canadian dollars is funding the UNDP-FAO […]
Sri Lanka tea sees improved demand for low growns at auction
Mar 31, 2016 (LBO) – Sri Lanka’s tea prices in overall auction offerings this week were marginally lower with better demand for low grown and mid to high grown prices easier, Forbes & Walker Tea Brokers said in their latest report. “Low Growns continued to witness improved demand all around and consequently an appreciation in prices,” the […]
Top Lankan team heading for Brussels on decisive fishery ban talks
Mar 18, 2016 (LBO) – A top team including officials from the Prime Ministerial Task Force is scheduled to depart for Brussels on 30 March for decisive talks on the EU Fishery ban, Seafood Exporters Association said. Chairman of Seafood Exporters Association Prabhash Subasinghe said this meeting is almost expected to be the final and […]
Watawala plantation 9-mth profit +7 pct on palm oil, lower tax
Jan 27, 2016 (LBO) – Sri Lanka’s Watawala Plantations PLC reported net profit of 439 million rupees for the nine months to 31 December 2015, up seven percent, on profits from palm oil and lower outlay on taxes despite losses in the tea and rubber production sectors. Net profit for the quarter was up 21 […]
Govt intervention in Colombo tea auction detrimental to sector: Fitch
Nov 17, 2015 (LBO) – Sri Lanka’s government intervention into the Colombo tea auction will be detrimental to the sector as it will make Sri Lankan tea less competitive in a global market that is over-supplied, Fitch Ratings said. The Sri Lankan government in October 2015 allocated 1.0 billion rupees to purchase tea at the […]
Sri Lanka tea prices hit lowest levels since March 2012
Oct 08, 2015 (LBO) – Sri Lankan tea prices have come down to it’s lowest levels since March 2012 with low grown varieties the worst affected, latest data shows.The Colombo tea auction monthly average price for September 2015 was down 71.33 rupees to 368.18 rupees a kilo from 439.51 rupees in 2014, Forbes and Walker […]
‘s govt plans to intervene in tea prices with purchases of Rs300mn
Oct 01, 2015 (LBO) – Sri Lanka’s plantation ministry said that it plans to300 million rupees from the auction to artificially raise the price of tea with savings from the money that government subsided for tea small holders.“We have passed this proposal to ministry of economic affairs and policy which is under the prime minister,” […]
Govt signs USD 150 mn ADB loan for water to dry zone
Sep 17, 2015 (LBO) – Sri Lanka’s government signed a 150 million US dollar loan agreement with the ADB to address the water scarcity in the islands dry zone, the Asian Development Bank said in a statement. The loan is the first tranche of a 453 million US dollar multi-tranche financing facility to help complete […]
Managerial skills, tea cloning to help Sri Lanka’s tea industry: PA
Sep 17, 2015 (LBO) – Sri Lanka’s tea industry, which has a long history starting from British period, now needs to adopt professional managerial skills and build elite clone tea to face current challenges and to drive future growth, the chairman of the Planters’ Association said. The industry is currently in a crisis situation with […]