Business
Decoding Oil Palm: Myths vs Truths
By Anumita Ghosh
The contents in this article revolves round a scientific research-backed study on oil palm cultivation in the aftermath of the recent ban in Sri Lanka.
Oil palm is considered to be one of the most competitive vegetable oil crops in terms of productivity. The crop provides five times as much vegetable oil per hectare compared to alternative crops, such as coconut, and sequesters more carbon per hectare than tea and coconut. According to studies conducted by Sri Lankan scientists, per litre of palm oil requires lesser fertilisers and less water than coconut, dry rubber or tea. The crop primarily uses rainwater for cultivation, and there is no evidence of palm oil plantations causing groundwater depletion. Yet, despite a wide range of virtues, the Sri Lankan government has decided to ban palm oil production, ordering replacement of oil palm trees with rubber plantations, on grounds of unfavourable environmental and social impacts.
Myths & Truths
Unfortunately, palm oil has been at the receiving end of a perception that is nurtured based on unfavourable emotions and not facts around it. Claims of oil palm plantations leading to widespread deforestation and damage to ecosystems have hardly any transparent scientific research backing them. In Sri Lanka, oil palm does not replace forest but other plantation crops, primarily rubber or coconut. Therefore, its biodiversity performance needs to be compared with these crops, and as found in various studies, the differences in biodiversity between oil palm, rubber, tea and coconut plantations are neither significant nor conclusive.
In an attempt to break the myths around palm oil and its production, Solidaridad has released the “Myths and Truths of Oil Palm”, a research-based scientific study that provides information and assessments on palm oil through an in-depth literature review on research findings by over 15 leading scientists from top universities and research institutions across Indonesia, Malaysia, India and Sri Lanka. A result of extensive research, the publication vividly portrays the social, economic and environmental impacts of oil palm production.
Research highlights
Sri Lanka annually imports 180,000 to 220,000 MT of vegetable oil. This can be met with 50,000 ha of oil palm or 271,000 ha of coconut. Oil palm yields 4 to 5 times oil per ha.
Oil palm plantations have served Sri Lanka for over 54 years, starting around 1968 Palm oil is in many aspects healthier than coconut oil Currently, profits generated per ha/ year; Oil Palm LKR900,000, Coconut LKR280,000, Rubber LKR70,000, Tea LKR45,000 The daily wages per month for workers; Oil palm worker LKR30,000 – LKR50,000, Tea estate worker LKR25,000, Rubber tapper LKR18,000
No evidence has been found of soil and water resource degradation in the oil palm growing estates in Sri Lanka
A worldwide study which included Sri Lanka has shown that in Sri Lanka, the water footprint of coconut oil 10,548 m3water/ton, palm oil 3,946 m3water/ton.
Setting the tone
The launch was organised on 19 January 2022 in a hybrid event with scientists, government ministries and departments, research institutes, private sector, community organisations, media and other participants from Sri Lanka joining the event physically. Panelists and participants from India, Indonesia, Malaysia, the Netherlands and other parts of the world attended the event virtually.
Among the panelists, Dr. Shatadru Chattopadhayay, Managing Director, Solidaridad Asia, began the session on a strong and positive note, highlighting the socio-economic impacts of the crop.
“Stop condemning palm oil while adulating other oils, especially when we know that palm oil provides livelihoods to thousands of communities,” he mentioned, setting the tone of the session.
Professor Maja Slingerland from the Wageningen University of the Netherlands, who is also the study reviewer and editor, spoke at length on the impacts and opportunities of oil palm cultivation in Asia.
Research scholar, Dr. Ranjith Mahindapala, presented the audience with the key findings and recommendations from the publication. The panelists also included Manjula De Silva, Ceylon Chamber of Commerce, Sri Lanka; Mrs. Musdahlifah Machmud, Coordinating Ministry for Economic Affairs, Indonesia; Atul Chaturvedi, Solvent Extractors Association, India; Dr. Ahmad Parveez Ghulam Kadir, Malaysian Palm Oil Board, among others.
One of the panelists, Ms. Margot Logman, Secretary General of the European Palm Oil Alliance (EPOA), delivered an argument through her presentation stating: “Only alternative to palm oil is sustainable palm oil”. She urged for an urgent call to action in support of oil palm cultivation.
“We need to tell the complicated truth about sustainable palm oil, not a simple story. We need to win the trust of consumers with facts, and not emotions, in support of palm oil in Europe,” Logman said.
Logman’s call for a perception makeover of the crop was echoed in the smallholder representative Nimal Wijesinghe’s address to the audience. The president of the Haritha Derana Smallholder Association in Sri Lanka narrated how the small farmers in the region had developed misconceptions about oil palm primarily because they did not grow it and were not aware of the truths about the crop. “On learning about the higher profit and income of oil palm cultivation over other crops, they asked me: Can’t we grow this crop?” he mentioned.
Wijesinghe’s appeal to the authorities marked the perfect denouement to the session as he urged, “Give this crop to the smallholder; give it to the person who owns half an acre of land…the person who can grow only 25 trees. That would be the real Samurdhi (prosperity; also, the name of a government welfare scheme for low-income families in Sri Lanka).”
Anumita Ghosh is a Senior Editor and communication professional at Solidaridad Asia – an international sustainability organisation, and can be reached at anumita.ghosh@solidaridadnetwork.org
Business
USA–Sri Lanka Chamber of Commerce plans New York campaign to promote Tourism and Business
Timing aligns with national policy discussions
By Sanath Nanayakkare
The USA–Sri Lanka Chamber of Commerce is exploring an innovative promotional initiative to showcase Sri Lanka’s tourism, cultural heritage, and commercial opportunities in the heart of New York City during the upcoming Christmas and holiday season.
The proposed campaign aims to bring Sri Lanka’s unique identity to one of the world’s most internationally recognized cities through a mobile digital billboard featuring high-quality photographs and videos highlighting the island’s natural beauty, rich heritage, and diverse commercial offerings. Designed to capitalize on New York City’s significant holiday-season foot traffic, the initiative will reach American consumers, international tourists, and potential business partners.
The digital showcase will feature pristine beaches, scenic mountains, waterfalls, tea plantations, wildlife, ancient cities, Buddhist heritage, traditional arts, authentic cuisine, and modern attractions, positioning the country as a premier international travel destination. An interactive QR code linking to comprehensive tourism information will also be incorporated, allowing viewers to directly explore travel opportunities.
Beyond destination promotion, the initiative provides Sri Lankan businesses with a vital platform to introduce their products and services to the American market. Enterprises representing Ceylon tea, spices, food products, gems and jewellery, apparel, handicrafts, wellness, hospitality, and tourism will have the opportunity to showcase their brands alongside the broader national campaign.
The Chamber notes that this effort will be particularly beneficial for small and medium-sized enterprises (SMEs) seeking greater international exposure, brand recognition, and commercial partnerships in the United States. By integrating tourism promotion with commercial visibility, the project aims to strengthen Sri Lanka’s international image while supporting trade, investment, and business development.
Operating under the central message of “Discover Sri Lanka. Experience Sri Lanka. Visit Sri Lanka,” the campaign presents the island as a destination defined by natural beauty, cultural richness, distinctive products, and entrepreneurial potential. More information on the initiative is accessible at www.usaslcc.org.
Tourism sector stakeholders have welcomed the move, noting that private-sector-led initiatives of this nature bypass cumbersome bureaucratic procurement procedures and complex tender processes typically associated with state-run promotional campaigns abroad.
The timing aligns with recent national policy discussions regarding tourism promotion. Participating in a Fireside Chat at the inauguration of the Sri Lanka Economic and Investment Summit 2026, organized by the Ceylon Chamber of Commerce, President Anura Kumara Dissanayake emphasized that a proper procurement mechanism needs to be established before acquiring tourism promotional concepts, recommending a performance-based system where agencies are compensated according to verified growth in tourist arrivals.
Business
Seylan Bank partners Colombo Motor Show 2026 as official banking and leasing partner
For 10th consecutive year
Seylan Bank PLC, the Bank with a Heart, has reaffirmed its commitment to supporting Sri Lanka’s automotive industry by partnering with the 20th edition of the Colombo Motor Show 2026 as the Official Banking & Leasing Partner for the 10th consecutive year. This makes Seylan Bank the longest-standing partner of the Colombo Motor Show, further reflecting its longstanding association with one of Sri Lanka’s most prominent automotive exhibitions. The four-day exhibition is scheduled to take place from 20th to 23rd November 2026 at the Bandaranaike Memorial International Conference Hall (BMICH), marking the first time the Colombo Motor Show will be held as a four-day event.
As one of Sri Lanka’s leading international motor and motor accessories exhibitions, the Colombo Motor Show will bring together vehicle enthusiasts, prospective buyers, industry professionals and automotive service providers. The 2026 edition is expected to feature over 200 trade stalls covering motor vehicles, accessories, spare parts, lubricants, tyres, batteries, leasing facilities and other motor-related services.
Through its continued partnership, Seylan Bank will showcase a comprehensive range of financial solutions designed to support customers in meeting their personal and business needs, with a particular focus on Seylan Leasing facilities. Visitors to the exhibition will have the opportunity to receive on-the-spot leasing evaluations and expert guidance from Seylan Leasing Specialists, helping them explore vehicle financing options conveniently during the event.
Business
WCIC sharpens focus on scaling women-owned businesses
The Women’s Chamber of Industry and Commerce (WCIC) is sharpening its focus on helping women entrepreneurs move beyond business creation towards sustainable growth, as it expands its membership, partnerships and advocacy footprint.
WCIC Chairperson Gayani de Alwis, concluding her second tenure, highlighted the Chamber’s efforts had increasingly centered on creating pathways for women to translate entrepreneurial ambition into viable enterprises and, importantly, build those businesses for the longer term.
“Ultimately, our impact is not measured by the number of programmes we conducted, but by the women whose businesses grew, whose voices became stronger, whose horizons expanded and whose contribution to the economy became greater,” she said addressing the WCIC 41st Annual General Meeting (AGM) held on 22 September for which the Chief Guest was Canadian High Commissioner to Sri Lanka and the Maldives Isabelle Martin.
The focus has included a special initiative for female university students with an entrepreneurial mindset, regional chapter initiatives in the Northern Province, capacity-building programmes and the inaugural ‘Beyond Ramp Up’ workshop.
The Chairperson said these initiatives were designed to move women “from aspiration to enterprise, and from enterprise to sustainable growth”, signaling a broader focus on strengthening the progression of women entrepreneurs beyond the initial stages of business formation.
WCIC recorded a 20 percent increase in membership during the period with membership crossing 460 and expanded its ecosystem through a series of strategic partnerships.
Internally, WCIC moved to strengthen its governance framework, revising its Articles of Association to ensure regulatory compliance and introducing a Code of Conduct and Board self-assessment. Clearer organisational roles, job descriptions and performance targets were also introduced as part of efforts to strengthen accountability and professionalise its operations.
Reflecting on her tenure, the Chairperson said the period had been about building a stronger, more connected and professionally governed organisation, while converting its wider ambitions into tangible opportunities for women in business.
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