Spices can be a main sector of Sri Lanka economy: President

ECONOMYNEXT –The government is ready to provide the necessary facilities and a comprehensive plan for a revival of the spice industry, President Ranil Wickremesinghe said last week

“Sri Lanka once had the world’s best spices, but our neglect of the industry in the past 30-40 years has led to a decline in our income from spices. This needs to change,” Wickremesinghe said at the 19th Annual General Meeting of the Spice Council held earlier in the week.

“As we implement economic reforms and debt sustainability measures, we must become a more competitive and export-oriented economy. We need to earn more foreign exchange to repay our debt and ensure a positive balance of payments. One way to achieve this is to focus on an export economy that is competitive and generates foreign exchange through economic activities. Spices can be one of the main sectors of this economy.”

Sri Lanka has a long history of exporting spices, Wickremesinghe pointed out, “We need to expand our focus to a broader market,” adding that the government had established a separate department for cinnamon development.

Spices that have been cultivated in Sri Lanka since ancient times include pepper. “We need to work through a targeted program to improve the production and export of these spices.”

“Sri Lanka is known for its high-quality coffee and cocoa, in addition to spices. The government is prepared to provide the land and resources needed to develop these sectors,” he said.

He said that an agricultural modernization program which incorporates new technology should be immediately implemented. “This will help us to improve productivity and efficiency and to compete more effectively in the global market.”

“The private sector has a vital role to play in this endeavour. I therefore urge the Spice Council to develop a plan for promoting the spice industry and I assure you that the Minister and I are ready to provide the necessary support.”