Sri Lanka farmers earn US$31mn from Nestlé

Dec 27, 2012 (LBO) РThe Sri Lanka unit of Nestl̩, a Swiss-based food group said it had paid 4 billion rupees (31 million US dollars) to dairy and coconut farmers in the island to buy milk and coconuts during 2012. The firm has a network of 23,000 dairy farmers and 5,000 coconut farmers supplying raw materials.

“It’s nice to end the year having made such a positive impact on the lives of so many,” Alois Hofbauer, managing director of Nestlé Lanka Plc said in a statement.

“I’m extremely proud of our landmark contribution in uplifting the livelihoods of Sri Lankan farmers this year and pleased we have proved once again that it is possible to do well by doing good.”

The firm said it bought 50 million coconuts during the year. Nestle is a top exporter of coconut milk powder from Sri Lanka.