Category: Agriculture

August 27, 2007 (LBO) – Sri Lanka’s Hapugastenne Plantations said net profit for the June quarter shot up 472 percent to 170 million rupees with the bottom line being boosted by high low grown tea prices and profit from asset sales. Revenue for the quarter was up 39 percent to 705 million rupees, according to […]

Aug 24, 2007 (LBO) – Tea bag exporter Ceylon Tea Services Ltd., part of the Dilmah brand group, said net profit fell 7.1 percent to 152 million rupees for the quarter ended June 30, 2007. Revenue fell 1.2 percent to 738 million rupees in the same period, according to interim results. The company is one […]

August 24 (LBO) – Experts from the world’s top tea producing and consuming countries will meet in the Sri Lankan capital Colombo next week to discuss issues concerning sustainable production and food safety standards. This meeting, being organized by the Sri Lanka Tea Research Institute with the Tea Board and CTTA, will see scientists from […]

August 24 (LBO) – Sri Lanka’s tea trade, the island’s main export earner, has said funds raised from a tax on exports are still not being ploughed back adequately to develop the industry despite numerous complaints. Delays and inadequate disbursements are hindering factory modernization work and tea promotion in highly competitive global beverage markets, exporters […]

August 22, 2007 (LBO) – Sri Lanka’s Watawala Plantations plc, a unit of India’s Tata Teas, said net profit for the quarter ended June 2007 fell 24 percent to 35 million rupees compared with last year. Revenue rose to 917 million rupees from 802 million the year before, according to interim results released by the […]

August 08, 2007 (LBO) – Kelani Valley Plantations, a unit of Sri Lanka’s Hayleys group, saw profits dip 36 percent in the quarter ended June 2007 as turnover rose by 3 percent, as it recovered from the effects of a strike the previous year. . Consolidated net profit after tax fell to 63.3 million from […]

Aug 2, 2007 (AFP) – Sri Lanka’s tea export volumes fell by 10 percent in the first six months of this year, but earnings rose marginally by three percent, a commodity broker said Thursday. Sri Lanka, which is better known for its high quality aromatic tea known by the country’s previous name Ceylon, is made […]

August 01, 2007 (LBO) – Sri Lanka needs a more protectionist trade policy to ensure vulnerable sections of society are protected from the negative effects of liberalization while enabling its advantages to be exploited, a top agricultural economist said. This was one of the main reasons for the repeated failure of Doha talks, Herath said. […]

July 31, 2007 (LBO) –Sri Lanka’s agribusiness companies have started a programme to get corporate executives to volunteer their services help farmers improve productivity, reduce waste and get better access to markets. The aim of the programme, launched under the aegis of the National Agribusiness Council (NAC), is to get member firms to provide two […]

July 31, 2007 (LBO) – Pelwatte Sugar group has reported a loss of 75.6 million rupees for the June quarter while sales also fell 53 percent to 161 million rupees, the firm’s results released to the Stock Exchange showed. Last year it reported 341 million rupees in sales and 109 million in profits. International sugar […]

July 26, 2007 (LBO) – Bogawantalawa Tea Estates Ltd. has reported loss last year but its marketing subsidiary, about whose viability auditors have raised doubts, has made a breakthrough in overseas markets with contracts to pack teas for private labels. Bogawantalawa Tea Estates reported a group net loss of 121.6 million rupees for the year […]

July 25, 2007 (LBO) – Sri Lanka’s National Agribusiness Council (NAC) has started a scheme to help farmers get better access to markets and other skills and resources. Representatives of farmer councils set up under the NAC’s aegis signed an agreement to form a federation at the Ag-Biz trade fair over the weekend. The aim […]