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Sri Lankan tea prices that had been piping hot have cooled off as production in the world’s fourth-largest tea grower begins to recover.The post Sri Lanka tea prices dip 40% from record high on production rebound appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka is set to start bartering tea to Iran next month in lieu of $250 million owed for oil, a Sri Lankan official told Reuters on Friday, as the crisis-hit country tries to lift sales to a key market and protect its forex reserves.
Earnings from Sri Lanka’s tea exports contracted 5 percent Year-on-Year (YoY) or by US$ 65.7 million to US$ 1.259 billion in 2022 due to reduced quantities shipped to importing markets.The post Tea export earnings down 5% in dollar terms, but hit record-high in rupee terms amid sharp depreciation appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
[…]The post Budget Woes; How Soon Will Titanic Touch The Bottom? appeared first on Colombo Telegraph.
In dollar terms, the average sale price for Sri Lankan tea had been 4.41 dollars per kilogram
The sharp increase in lending rates is a major cost to the industry
July prices surpassed the previous record price reported in April 2022 of 1,333.61 (USD 4.14).
Promises inputs amid soft-peg crisis
Tea farmers would be able to import fertilizer and inputs
Regional plantation companies and smallholders are harvesting green leaf and arranging deliveries
[…] The post “Tea Is The Most Affordable Luxury,” Says The Sri Lanka Tea Board. How So? On Whose Toil? appeared first on Colombo Telegraph.
[…] The post “Tea Is The Most Affordable Luxury,” Says The Sri Lanka Tea Board. How So? On Whose Toil? appeared first on Colombo Telegraph.
[…] The post “Tea Is The Most Affordable Luxury,” Says The Sri Lanka Tea Board. How So? On Whose Toil? appeared first on Colombo Telegraph.
[…] The post “Tea Is The Most Affordable Luxury,” Says The Sri Lanka Tea Board. How So? On Whose Toil? appeared first on Colombo Telegraph.
[…] The post “Tea Is The Most Affordable Luxury,” Says The Sri Lanka Tea Board. How So? On Whose Toil? appeared first on Colombo Telegraph.
[…] The post “Tea Is The Most Affordable Luxury,” Says The Sri Lanka Tea Board. How So? On Whose Toil? appeared first on Colombo Telegraph.
[…] The post “Tea Is The Most Affordable Luxury,” Says The Sri Lanka Tea Board. How So? On Whose Toil? appeared first on Colombo Telegraph.
99X Technology, formerly known as Eurocenter DDC, was recognised as the Outstanding Exporter in 2011 in the Gold Category for the Export of Business and Professional Services Sector at the 20th NCE Export Awards, which was held on 21 September at Hilton, Colombo. The award benchmarks 99X Technology as an innovative thought leader in the ...
Union Bank announced the appointment of Sabry Ghouse and Sunil Karunanayake as new Independent Non Executive Directors to the bank’s Board of Directors with effect from 30 August 2012. Appointment of independent directors is an integral part of the bank’s good governance practices, thus ensuring further commitment to the protection of shareholder interest. In this ...
By Cassandra Mascarenhas The Government eServices project spearheaded by the ICT Agency of Sri Lanka celebrated a landmark achievement last evening, launching 22 important eGovernment services, further strengthening the country’s Government sector by making public services easily accessible to the citizens of Sri Lanka via the internet and mobile communication systems. Presidential Secretary...
Sri Lanka has succeeded in becoming a direct tea supplier to Iraq, in addition to be the dominant tea supplier in the country, the fifth largest buyer of Pure Ceylon Tea in the world. “I have been given to understand that our direct shipments of Pure Ceylon Tea to Iraq have, in terms of value, ...
The National Chamber of Exporters of Sri Lanka (NCE) and the Shippers Academy Colombo (SAC) conducted the third seminar in a series on Customs and SLPA automation this month, on post implementation on Customs and SLPA automation process. The event was attended by Sri Lanka Ports Authority Chairman Dr. Priyath B. Wickrama, Sri Lanka Customs ...
Reuters: Sri Lanka now expects 2012 tea production of around 325 million kg, below its target of 330 million kg, as output has fallen in the last five months due to drought, the State-run Tea Board said. Tea production in the first half of the year fell 4.3 per cent year-on-year to 163.26 million kg ...
Wimbledon is special to me not because I played the tennis circuit during my schooling days but for the insights that I get into life and business in general. The 2012 edition in particular was unique, given that a Brit was in the finals of the men’s singles game, that was happening after 74 years. ...
The third in the revived Exporters’ Forum series in Sri Lanka’s new thrust concluded successfully on 10 July in Colombo with the community praising the effort for ‘active follow up’ on problems faced by Sri Lankan exporters. “Today we successfully cleared Rs. 15.5 m refunds which were due for exporters and also managed to resolve ...
As Sri Lanka-UK bilateral trade volumes reported a further rise in 2011, the UK is keen to raise its investments in Sri Lanka. “UK’s Cleveland Bridge Ltd., the well-known global tech engineering company, has won a contract to build 210 permanent steel bridges in Si Lanka. This infrastructure project is partly funded with a loan ...
The National Chamber of Exporters of Sri Lanka (NCE) in association with the Shippers Academy (SA) has organised a workshop to discuss, various issues in the post introduction of ASYCUDA world and online bill payments on 15 July from 8a.m. to 12 noon at the Sri Lanka Foundation Institute. It will involve the participation of ...
Ballooning trade gap Even with the multitude of measures taken to curb imports, Sri Lanka's cumulative trade deficit widened to nearly US$ 1.7 billion in the first two months of the year with earnings from exports increasing marginally by 3.3 per cent to US$ 1.8 billion whilst import expenditure shooting by 24.7 per cent to ...
By Cheranka Mendis The volatility in Middle Eastern markets, coupled with the increasing issue of low quality due to competition and increasing costs, has placed the local tea industry in a big fix, which could, if unattended, immediately mark the end of a Sri Lankan legacy in four to five years. Despite Sri Lankan tea ...
“The Sri Lanka Customs is now streamlining its processes and procedures to facilitate the export/ import community,” Dr. Neville Gunawardena, the new Customs Chief highlighted at a workshop organised by the National Chamber of Exporters of Sri Lanka (NCE) and the Shippers’ Academy Colombo (SAC) last week on the subject of ‘Automation of Customs’...