Business

Government support for value added Ceylon Tea

Published

6 years ago

2020/11/7

By Steve a. Morrell

Government support will be extended to the tea industry to enhance the Ceylon Tea brand. Efforts at value addition to local teas, alongside research and manufacture of tea by products will also be encouraged, Minister of Plantation Industries Dr. Ramesh Pathirane said. He was addressing the 126th AGM of the Colombo Tea Traders Association recently as Chief Guest.

However, the Minister was intensely critical that some tea factory owners were involved in the dubious practice of adulteration of tea in their factories. He said the President, being personally aware of this questionable practice, warned such persons that strong deterrent action will be taken to arrest such practices that seriously affect the prestige of the Ceylon Tea brand.

‘However development of the tea trade includes all aspects of marketing. Tea in a major contributor to foreign exchange. It was also of concern that Ceylon Tea was the most outstanding tea producer in the world in terms of volume in the 1930s but had now slipped to being the 6th largest producer of the product. We must regain our top slot position in production. Replanting should be increased along with provision of technology to achieve these goals. The President, being aware of the importance of the industry to the economy of the country said support to improve Ceylon Tea in all its aspects would be forthcoming, the minister said.

State Minister, Company Estate Reforms / Tea Estate Related Crops, Tea Factory Modernization and Tea Export Promotion Kanaka Herath said modernization of the tea industry is imperative. Value addition would also be vital to the industry’s future.

Chairman CTTA, Jayantha Karunaratne, in his annual report said the tradition of conducting the Colombo Tea Auctions over the past 125 years through an outcry system in the sales rooms of the Ceylon Chamber of Commerce commenced in 1894.

‘Since then the auction continued until restrictions were imposed by the COVID 19 pandemic. This necessitated the introduction of an e- auction system to ensure that there would not be any interruption to the movement and export of tea. The tea industry in all its sections from producers, brokers to shippers, was united in its endeavors to ensure there was no breakdown that could stifle normal functions in the industry, the chairman added.

‘The ‘Ceylon Tea Road Map’ initiative with the Ministry of Plantation Industries would ensure effective progress of the industry to produce 350 million tea kilos over the next 10 years, resulting in the industry earning 3 billion dollars. Also such progress would include benefits to smallholders and workers on the plantations, he said.

Chairman, Tea Board, Jayampathy Molligida said Tea prices at the Colombo auctions were stable and on the increase. He commended the CTTA for their leadership to ensure the Ceylon Tea brand would continue with its positive trends.

President, Asia Siyaka Tea Brokers Anil Cooke also spoke.

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Business

India-Sri Lanka Foundation’s 41st meeting signals a new era of integration

Published

19 hours ago

2026/09/2

Sahan Weerasooriya

High Commissioners Santosh Jha and Mahishini Colonne chaired the 41st India-Sri Lanka Foundation meeting in New Delhi, highlighting ongoing bilateral cooperation across cultural, economic, and infrastructure sectors.

By Sanath Nanayakkare

On the surface, the 41st Board Meeting of the India-Sri Lanka Foundation (ISLF) in New Delhi on August 28, 2026, was structured as a routine diplomatic engagement. Co-chaired by Indian High Commissioner Santosh Jha and Sri Lankan High Commissioner Mahishini Colonne, the session formally approved a standard slate of cultural and educational projects.

However, looking closer at the broader macroeconomic and geopolitical landscape, the meeting underscored a much deeper structural alignment between the two nations. Against a backdrop of ongoing economic recovery, bilateral discussions increasingly touch upon critical areas of regional integration, investment, and infrastructure.

Among the key areas attracting attention are post-civil war reconciliation efforts and administrative milestones in the Northern Province.

Discussions in diplomatic circles continue to focus on the progressive release of state-held lands back to civilian inhabitants, alongside the anticipated finalization of provincial council elections to support local governance frameworks.

In the economic sphere, commercial integration remains a central theme as Sri Lanka stabilizes its foreign exchange reserves.

Recent financial dialogues in Colombo were seen exploring mechanisms such as transacting in Indian Rupees (INR), aligning with wider regional efforts to facilitate bilateral trade settlements and mitigate foreign currency pressures. Financial institutions, including the State Bank of India, continue to support these bilateral trade facilitation mechanisms.

Cooperation in the energy sector is also progressing through key joint ventures aimed at harnessing renewable resources. Proposals such as the 200MW solar power project in Sampur, developed via a partnership between NTPC and the Ceylon Electricity Board, highlight ongoing efforts to diversify national power generation. Discussions concerning cross-border grid interconnections further reflect strategies to enhance regional energy security and optimize renewable capacity.

At the same time, ongoing reviews of project tariffs – such as those involving renewable initiatives by firms like Adani Green Energy – demonstrate the government’s focus on balancing capital investments with domestic economic interests.

As the ISLF marks decades of supporting bilateral cultural exchanges through hundreds of initiatives, the overarching partnership between New Delhi and Colombo continues to evolve. Navigating these complex frameworks of trade, energy, and development remains essential as Sri Lanka charts its economic future within the South Asian region.

Business

Sysco LABS named one of Sri Lanka’s Most Outstanding Women-Friendly Workplaces for 2026

Published

19 hours ago

2026/09/2

Sahan Weerasooriya

At the far left and far right, respectively: Ruchini Weerawardena, Senior Manager – Talent Management and Development, and Tashiya Jayatilaka, Team Lead – People Operations accepting the award on behalf of Sysco LABS.

Sysco LABS, the Global Innovation Center of Sysco, has been named one of Sri Lanka’s Most Outstanding Women-Friendly Workplaces at the Women-Friendly Workplace Awards 2026, marking its highest recognition at the awards to date.

The recognition represents an important milestone in Sysco LABS’ ongoing journey to build a workplace where women are supported not only to enter and participate in the technology industry, but to develop, progress and build meaningful long-term careers.

Held recently, the 2026 awards organized by Satynmag continued a six-year journey of recognizing and encouraging organizations to move beyond intention towards meaningful and measurable progress for women at work. This year’s awards placed particular emphasis on a defining question for women-friendly workplaces: beyond representation, how far are women able to go?

This win also reflects a progression in the company’s recognition journey at the Women Friendly Workplaces Awards. Following an “Honorable Mention” in the 2023 edition of the ceremony while winning a special award for “Best Women in STEM Project” in 2025, 2026 marks the first time Sysco LABS has been recognized as one of Sri Lanka’s Most Outstanding Women-Friendly Workplaces.

Business

CCPI-based headline inflation accelerates in August 2026

Published

19 hours ago

2026/09/2

Sahan Weerasooriya

The Colombo Consumer Price Index (CCPI, 2021=100) based headline inflation (year-on-year, Y-o-Y) increased to 8.0% in August 2026 from 7.3% in July 2026, primarily due to the statistical base effect in food inflation. Meanwhile, food inflation (Y-o-Y) increased to 8.5% in August 2026 from 6.3% in July 2026, contributing mainly to the increase in headline inflation, while non-food inflation (Y-o-Y) decelerated to 7.7% in August 2026 from 7.8% in July 2026.

On a month-on-month basis, the CCPI increased by 0.28% in August 2026. This increase was mainly driven by the food category, which contributed 0.20 percentage point, largely owing to the increase in prices of Milk Powder, while the non-food category contributed a marginal 0.07 percentage point.

Meanwhile, core inflation (Y-o-Y) accelerated to 5.1% in August 2026 from 4.4% in July 2026.

According to the inflation projections made at the monetary policy round in July 2026, headline inflation is expected to remain above the target of 5% in the near term, before easing and stabilising around the target over the medium term, supported by appropriate policy measures. These projections are conditional, among other assumptions, on the expectation that the effects of the tensions in the Middle East and their spillovers will be temporary and gradually dissipate.