Category: Agriculture

Sept 19 (LBO) – Sri Lanka’s plantations companies face another crippling wage hike less than a year after giving one as politically powerful labour unions pressurize the government which needs their support to pass the forthcoming budget in parliament. Stock market analysts said another wage increase would increase pressure on listed regional plantations companies (RPCs), […]

SINGAPORE, Sept 18, 2007 (AFP) – Oil prices topped 81 dollars a barrel for the first time on Tuesday, setting another record high amid fears of critically tight supplies for the winter season in the United States.OPEC’s announcement last week that it would pump an extra 500,000 barrels per day from November has failed to […]

Sept 18 (LBO) – A top tea broker has warned the industry not to take short cuts to get high prices at the Colombo auctions and instead to play strictly by the rules. “It is not advisable to turn a blind eye or encourage the achievement of prices by hook or by crook and instead […]

Sept 17, 2007 (LBO) – Sri Lanka’s plantations companies have called for greater security of land on which they grow export crops like tea to ensure more investment in the upkeep of estates and factory modernization. To make matters worse, compensation due on such acquisitions is not forthcoming despite repeated appeals. Planters’ Association (PA) chairman […]

Sept 10, 2007 (LBO) – The Sri Lanka shares closed lower Monday after rising at the opening with interest in John Keells Holdings helping to improve turnover. The market turnover was over 375 million rupees while the All Share Index closed two points lower at 2,544.24. The Milanka Index closed down 2.65 points at 3,458.77. […]

Sept 06, 2007 (LBO) – Sri Lanka has started a programme to encourage the cultivation and consumption of cashew nuts, saying it is good for health and has a good export potential. “Cashew is a crop that will help eradicate poverty as it grows in difficult areas and is easy to grow, not needing much […]

September 03, 2007 (LBO) – Sri Lanka is tendering three off-shore oil exploration blocks in October and exploration firms are expected to begin work in 2008, petroleum minister A H M Fowzie said. Sri Lanka has identified eight off-shore exploration blocks in the north eastern Mannar basin of which two had been reserved for China […]

Sept 03, 2007 (LBO) – Tea producing countries should aim to produce better quality, certified tea and not try artificial supply controls to raise prices, an official from the multinational Unilever said. Ian Neathercoat, Senior Resident Manager, Supply Chain Compliance Controller, Unilever Supply Chain Company, Europe, advocates the creation of a two-tier tea market producers […]

Sept 1, 2007 (LBO) – Sri Lanka’s tea plantations companies have been urged to grow their own fuel as a means of reducing costs at a time when fossil fuel prices are escalating. Growing crops like gliricidia would not only provide a cheap source of firewood to meet energy requirements but also nutrients for the […]

August 31, 2007 (LBO) – Sri Lanka’s tea industry in the southern part of the region where low grown teas are cultivated mainly by smallholders have too many factories chasing the available leaf supply, a top industry official said. Smallholders, who now produce more than half the island’s tea crop, have grown rapidly in the […]

August 30, 2007 (LBO) – Sri Lanka’s tea industry should slash the vast acreages under cultivation by half and improve yields as it was becoming unaffordable to run huge plantations, a top tea plantations company official said Thursday. “No longer can we have huge plantations,” said Dan Seevaratnam, Executive Deputy Chairman of the listed Kahawatte […]

August 28, 2007 (LBO) – Kenya is hoping to learn from Sri Lanka to add value to tea and earn more revenue in the face of sharp falls in prices for her tea, reports from the East African nation said. Economic analysts have earlier said that Sri Lanka’s efficient shipping, as well as the flexibility […]