Business

A global gathering in SL with a focus on food sovereignty and security

Published

1 year ago

2025/09/2

Sri Lanka will host the Third Nyéléni Global Forum from September 5 -14, 2025 at the National Institute of Cooperative Development (NICD), Polgolla, Kandy. For the first time since its inception in Mali, the Forum will move outside Africa, drawing over 600 delegates from more than 120 countries, including policymakers, academics, trade unionists, and global agriculture leaders. The agenda will feature, among other things, food security and sovereignty.

This high-profile gathering arrives at a critical juncture for Sri Lanka, as it attempts to restructure an economy battered by the 2022 sovereign default, inflationary spikes, and food insecurity. The government’s reliance on agricultural imports — worth over USD 2.4 billion annually — has exposed vulnerabilities in supply chains, while currency depreciation has made basic staples increasingly unaffordable for millions.

Sri Lanka’s agricultural sector contributes 7.8% of GDP but employs nearly one in four workers, making it a cornerstone of the economy. Yet the country remains highly import-dependent for essentials, including wheat, pulses, sugar, and dairy.

According to Central Bank data, agricultural imports surged from USD 1.9 billion in 2019 to USD 2.7 billion in 2023, even as foreign reserves collapsed. During the peak of the 2022 crisis, food inflation skyrocketed to 94.9%, underscoring the dangers of relying on global markets for staples.

“The Nyéléni Forum is not just about agriculture — it’s about economic resilience, said Hemantha Withanage, chairperson of the Centre for Environmental Justice (CEJ). “We need to rethink an economy that prioritises imports and export monocultures while undermining small farmers. Food sovereignty is a financial security strategy as much as a social movement.”

Food security, a long-standing national goal, focuses on access to adequate food. Food sovereignty, however, emphasises domestic control of agricultural production and distribution, empowering communities rather than corporations.

Globally, countries are realising the cost of an over-reliance on agrochemical-intensive monoculture farming. In Sri Lanka, decades of policy favouring export-oriented crops like tea, rubber, and coconut left the island dependent on imports for wheat, lentils, and dairy.

“The financial model of cheap imports collapsed when the rupee depreciated sharply in 2022, Withanage noted. “This is a lesson in economic sovereignty: no amount of foreign reserves can insulate you if your food systems are outsourced.”

Sri Lanka’s seed market illustrates this imbalance. While government agencies control roughly 10% of paddy seed distribution, the private sector dominates most other crops, limiting farmers’ choices and increasing production costs.

“Farmers are paying heavily for seeds and inputs, yet farmgate prices remain low. The seed monopoly and lack of regulation leave small-scale farmers vulnerable, said Chinthaka Rajapakse, Operations Manager of the Movement for Land and Agricultural Reform (MONLAR).

Compounding this are land-use policies that prioritise commercial agriculture and infrastructure projects over smallholder farming. Land acquisition for renewable energy — such as floating solar farms in irrigation reservoirs — is affecting both agriculture and inland fisheries.

“Climate change is magnifying these pressures. Rural farmers face rising debt, unpredictable weather, and shrinking arable land, while agribusiness consolidates resources, Rajapakse added.

Experts argue that agroecology — integrating ecological science into farming practices — offers a competitive advantage for Sri Lanka, particularly as global demand for sustainably produced goods grows.

Agriculture remains a heavily feminised sector in Sri Lanka, with women dominating tea plucking, vegetable farming and informal food markets. Yet their contribution is undervalued, said Gayani Gomez of the Women’s Centre.

“Economic policies are designed around corporations, not communities. The neoliberal system rewards large-scale agribusiness but disempowers the rural women who sustain food systems, she said.

Thilak Kariyawasam, Executive Director of FIAN Sri Lanka, highlighted that lessons from the 2022–23 economic crisis should inform future policy.

“The pandemic and economic collapse revealed that food imports are not a guarantee of security. When currency reserves fell, supermarkets emptied overnight, Kariyawasam said. “The Nyéléni Forum will provide actionable models from across the globe on how to localise supply chains and reduce exposure to currency and commodity shocks.”

As 600 delegates converge on Kandy this month, the message is clear: food sovereignty is no longer a niche ideal but a strategic economic priority. For Sri Lanka, aligning agricultural policy with resilience rather than dependency could mark a turning point in the country’s path to economic stability.

By Ifham Nizam

All News Advertisement

Business

PM ‘Rings the Bell’ at CSE to champion financial literacy and investor education

Published

12 hours ago

2026/10/7

Sahan Weerasooriya

P.M. Dr.Harini Amarasuriya

As part of World Investor Week (WIW) 2026, the Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) joined stock exchanges around the world in ringing the market opening bell for financial literacy on 5 October 2026, under the patronage of Dr. Harini Amarasuriya, Prime Minister of the Democratic Socialist Republic of Sri Lanka.

World Investor Week is an annual global campaign led by the International Organization of Securities Commissions (IOSCO) to raise awareness of the importance of investor education and investor protection. The “Ring the Bell for Financial Literacy” initiative, pioneered by the World Federation of Exchanges (WFE), brings together stock exchanges and other stakeholders worldwide to promote greater financial literacy and encourage individuals to make informed financial decisions.

The ceremony also marked the 40th anniversary of the CSE and the joint launch by the SEC and the CSE of the Stock Market Game, an online stock market simulation based on the ATrad trading system.

The Stock Market Game enables participants to gain practical experience of how the stock market works, make investment decisions and construct portfolios of listed shares without using real money. The platform is accessible through the websites of the SEC and CSE and is expected to serve as an important practical tool for promoting financial education. It is envisaged that the Stock Market Game will also be used to conduct simulation competitions among universities and the 100 Capital Market Clubs established in schools across the country.

The ceremony also featured the commemorative issuance of a stamp and First Day Cover to mark the 40th anniversary of the CSE. Issued in collaboration with the Department of Posts and the Philatelic Bureau of Sri Lanka, the commemorative stamp and First Day Cover were presented to Prime Minister Dr. Harini Amarasuriya, by the SEC Chairman Snr. Prof. D.B.P.H. Dissabandara and Ray Abeywardena, Director CSE and Chairman of Central Depository Systems (CDS).

Welcoming the gathering, Rajeeva Bandaranaike, Chief Executive Officer of the CSE, highlighted the importance of obtaining reliable information when making investment decisions.

“We operate in a digital world where a vast amount of information and data is disseminated through social media. While some of this information is factual, some may be inaccurate or misleading. When investing in the stock market, it is essential to make informed and prudent investment decisions. Therefore, investors should obtain information and data from reliable and responsible sources and persons before making investment decisions.”

Addressing the gathering, SEC Chairman Snr. Prof. D.B.P.H. Dissabandara emphasised that the SEC’s role extends beyond regulation to facilitating the further development of the capital market.

“The SEC needs to determine how best to introduce the stock market to Generation Alpha, Generation Beta and generations beyond. When it comes to investors, we need to build confidence in the market, because people will invest only when they have confidence in the market.’’

Business

Rs. 5 million worth of prizes to be given at 8th edition of CSE Masterminds Quiz Competition

Published

12 hours ago

2026/10/7

Sahan Weerasooriya

The Colombo Stock Exchange (CSE) has announced that the eighth edition of the CSE Masterminds Quiz will be held on 9th October 2026, from 3.00 p.m. onwards, at the Main Ballroom, Shangri-La Colombo.

Recognised as Sri Lanka’s premier capital market quiz competition, CSE Masterminds brings together teams from the public and private sectors. Participants will be tested across international business, global markets, current affairs, the Sri Lankan economy and business, the Sri Lankan stock market, and sports and entertainment, before a concluding rapid-fire round.

This year the winning team can win up to Rs. 2,000,000, the runners-up up to Rs. 1,000,000, and the second runners-up Rs. 750,000. Sector awards will also be presented to the highest-performing team from each participating sector. Guest participants will also be able to compete in rounds of Audience questions, and will have the opportunity to participate a raffle draw for three free return tickets provided by Fits Aviation (Pvt) Ltd.

The evening will also include an exclusive after-party with live music provided by the band ‘Doctor’ featuring guest performer Umara Sinhawansa, fine food and beverages, providing an opportunity for networking and celebration. Every participant will receive a premium goodie bag made possible by the support of the event’s sponsorship partners. Collectively, the event will feature over Rs. 5 million worth of prizes, rewards, and giveaways, encompassing championship prizes, sector awards, audience engagement prizes, raffle draw offerings, and goodie bags.

Sponsorship partners include:

Platinum Sponsors: Hatton National Bank PLC and Bartleet Religare Stockbrokers (Pvt) Ltd.

Gold Sponsors: Ex-Pack Corrugated Cartons PLC, Asha Securities Ltd., and Lanka Securities (Pvt) Ltd.

Silver Sponsors: Barista Coffee Lanka (Pvt) Ltd., Capital Trust Holdings (Pvt) Ltd., LOLC Holdings PLC, Arpico Ataraxia Asset Management (Pvt) Ltd., IronOne Technologies (Pvt) Ltd., and LankaPay (Pvt) Ltd.

Co-Sponsors: Access Engineering PLC, Bank of Ceylon, Commercial Bank of Ceylon PLC, CryptoGen (Pvt) Ltd., Deloitte Lanka (Private) Limited, Dialog Finance PLC, Efutures (Pvt) Ltd., People’s Leasing & Finance PLC, Senfin Asset Management (Pvt) Ltd., and Softlogic Stockbrokers (Pvt) Ltd.

Business

NCCSL to conduct practical workshop on food labelling and advertising regulations in Sri Lanka

Published

12 hours ago

2026/10/7

Sahan Weerasooriya

The National Chamber of Commerce of Sri Lanka (NCCSL) is organizing a one-day practical workshop on “Food Labelling & Advertising Regulations in Sri Lanka” on Thursday, 8th October 2026 from 9.00 a.m. to 4.30 p.m. at the National Chamber of Commerce, Colombo 10. The workshop has been organised to provide a practical understanding of the latest regulatory requirements governing the food products labelling and advertising of food products in Sri Lanka, with particular attention to regulatory developments applicable in 2026, compliance requirements, and the potential legal and financial implications of non-compliance.

As food products increasingly compete not only with quality and price but also on packaging, labelling and promotional claims, businesses must ensure the information they communicate to consumers is accurate, transparent and consistent with applicable regulatory requirements. Understanding these requirements is therefore essential for businesses seeking to protect their brands, maintain consumer confidence, and minimize regulatory and legal risks.

The practical workshop will go beyond an overview of regulations and focus on how businesses can apply regulatory requirements in their day-to-day operations. Participants will be guided through key areas of food regulatory compliance, including the national food regulatory framework, recent food labelling regulations and key changes, mandatory approvals and prohibitions relating to food labelling, and the litigation process associated with regulatory violations. The programme will also cover several areas of growing importance to the food industry, including the EU EMPCO Directive, food colour coding regulations, regulations relating to food trans-fatty acids and the importance of compliance in the use of food additives. Practical exercises will further enable participants to apply their knowledge to real-world compliance situations and strengthen their ability to identify potential regulatory concerns.

For further information and registration, please contact the National Chamber of Commerce of Sri Lanka on 011 4741788 – Nethmi or Udula – 071 403 4775.