Category: Other
Tea And The CEO
The selection and appointment of a CEO for the Tea Association will be the first official step in forming the umbrella organisation proposed in the A.T. Keay study initiated by the private sector. Chairman of the Planters Association, Mahendra Amarasuriya said plans were to appoint the new CEO before the end of August. Industry officials […]
Russian Ripper
Russia continues to be one of Sri Lanka quote s top buyers, importing approximately 50 million kilos a year and also the biggest value added market.A number of Russian companies had proposed to increase the tax by as much as 60 per cent. The mover aims to support Russian companies manufacturing value added tea, which […]
Betting On laws
The revised act with lower taxes and penalties for defaulters is expected to encourage bookkeepers and casinos to be a recognised taxpayer.rn rnThe exercise is expected to net in over Rs. 200 million to government coffers, under the budget for 2002 presented by the UNF coalition. rn rnInland Revenue authorities have already begun their campaign […]
Tasteless Treaty
The decision by the Joint Ministerial Committee earlier this month was prompted by a recent delay in clearing a shipment of tea to the continent.The decision requires flavoured tea exporters to obtain clearance for their flavours and methodologies from the National Food Laboratories Indian Prevention of Food Adulteration Act. Exporters obtaining the clearance will then […]
Leaving The Bud
VAT, which comes into effect from July 1, is slapped on tea exports.But the tea trade is against the move as it pushes the weekly tea auction prices up. Under the existing tax system, exporters are not required to pay 12.5 percent GST on the weekly tea auctions.Instead, GST is refunded whenever the trade purchases […]
Stylish Teas
The Indian tea industry is pushing forward a campaign to position the traditional brew as a lifestyle drink.An initial investment of Indian Rs. 20 million is being pumped in by the private sector for the nationwide campaign.The lifestyle campaign will is expected to increase per capita consumption levels from 0.660 grams per annum to 0.730 […]
Globe Trotting
In a decision made earlier this year the Cairo and Istanbul offices were closed down in view of relocating them to potential growth markets. Tea Board officials say the EU and the Far East including Australia and New Zealand accounted for a small percentage of Sri Lankan tea exports.Director, Tea Promotion Bureau, Hasitha de Alwis […]
Free Flowing Tea
Existing regulations restrict the import of teas for blending and re-export and specialty teas including green tea and CTC teas. Processed tea imports, black or green, Orthodox or CTC, whether in bulk or packaged form can only be imported subject to a 25 percent tariff duty.The joint committee recommendations are for allowing orthodox tea imports […]
Battle In a Tea Cup
This follows attempts to clamp down on illegal smuggling that has plagued the country quote s legal tea trade with imports falling by 12 percent in the first quarter of this year. Volumes of smuggled tea as at the end of the fiscal year 2001-02 is expected to range between 25,000 to 40,000 tons as […]
All Or Nothing
Trade Unions waging war against the Unilever quote s Mabola tea factory closure have decided to stick to a ldblquote remaining service life dblquote claim as the only acceptable compensation for the redundant staff.
Three Year Truce
The two agreements will lay a foundation on which future growth plans can be built, CEAT-Kelani Associated Holdings Managing Director V. Sekhar said. rnrn”With active technology support and assistance from CEAT India, the CEAT tyres in Sri Lanka have been re-designed for enhanced performance and coupled with an aggressive pricing strategy. CEAT-Kelani is now poised […]
Legal Liquors
Tea imports into Pakistan fell by 12 percent in the first quarter this year to stand at 29.9 mn kilos. The lowered volumes mirror a booming market for smuggled tea, with as much as 30 mn kilos entering the country through illegal trade channels.Seizing opportunity, as one tea broker said, this could be the ideal […]