Business
PA calls for urgent facilitation of crop diversification after sharp price reductions in tea and rubber

The Planter’ Association of Ceylon (PA) renewed calls for urgent action from policymakers to greenlight diversification into more lucrative crops like oil palm, in the wake of a sharp reduction in prices of tea and rubber over the first half of 2023 (1H23).
Following on record prices in 2022, when tea moved from Rs. 704.7 per kilogram up to Rs. 1,245.2 per kg in June, and up to an all-time high of Rs. 1,599.5 per kg by September, prices have been on a steady decline in 2023.
Starting from Rs. 1,466 per kg in January 2022, average prices have since reduced to just Rs. 974.4 per kg by June 2023. This amounts to a 24.4% Year-on-Year (YoY) reduction, and a drastic 40.3% reduction between Jan-June 2023.
National Tea Price Averages
Rubber prices too experienced significant volatility throughout 2022, moving from Rs. 461 per kg of Grade 1 Ribbed Smoked Sheets (RSS1) up to an annual high of Rs. 800 in June 2023, before collapsing back to Rs. 472.7 per kg in January 2023. While rubber prices have appreciated marginally to Rs. 536.3 per kg in June 2023, average prices of rubber for 1H23 were 21.4% less than the corresponding period of 2022.
“Sri Lanka’s plantation industry is in urgent need of a realignment. The price dynamics over the past 6 months show strong signs of a continuing downturn across both tea and rubber. Tea prices have been impacted by increasing production in competitor nations, while rubber prices affected by continuing supply-demand mismatches in the wake of the COVID pandemic. Demand for finished rubber products while showing marginal improvemnts, has been relatively stagnant compared to the past 3 years. Sri Lanka’s low productivity is also eroding our ability to compete with larger regional producers,
“While we maintain that there must always be a place for Sri Lankan tea and rubber, we have to acknowledge that securing the future of our nation’s plantation industry requires extensive crop diversification. We can no longer limit ourselves to just two main crops. Already significant investments are being channeled across the RPC sector into an array of crops – from a wide range of fruit cultivation to coffee and even several varieties of berries. However, we note with disappointment that there has still been little to no progress on expanding of sustainable oil palm cultivation,” PA Chairman Senaka Alawattegama noted.
Business
‘Transformative infrastructure’ installed at Colombo West International Terminal

In a landmark move for Sri Lanka’s logistics landscape, EFL Project Logistics has completed a critical phase of deliveries for the Colombo West International Terminal (CWIT), a transformative infrastructure project poised to reshape the country’s role in global maritime trade.
CWIT—a collaboration between Adani Ports and SEZ Ltd (51%), John Keells Holdings and the Sri Lanka Ports Authority—is set to be the island’s first fully automated deep-water terminal. As it gears up for full commercial operations in 2025, the recent arrival of high-tech port handling equipment marks a key economic inflection point for Sri Lanka.
Speaking exclusively to The Island Financial Review on the impact, Mohamed Niyas, General Manager – Project Logistics at EFL, said, “The logistics we executed for CWIT are more than just cargo movements; they are catalysts for economic transformation. These deliveries—ranging from electric inter-terminal trucks to automated gantry cranes—are essential to positioning Sri Lanka as a sustainable, high-capacity transshipment hub.”
Among the highlights of the operation were 62 state-of-the-art Sany electric trucks and massive quay and gantry cranes, representing not only a technical leap but also a green one. These advancements contribute to CWIT’s eco-efficient design and bolster Colombo’s capacity to handle up to 15 million TEUs by 2026.
Economically, the development of CWIT—and EFL’s role in its expedited setup—signals a push for increased foreign direct investment, enhanced export competitiveness and job creation across the logistics and engineering sectors. As Niyas emphasized, “We are not just helping move cargo; we are enabling national economic value. Every successful delivery brings us closer to a future where Sri Lanka is a leading player in the South Asian maritime corridor.”
With global shipping routes evolving and automation driving next-gen port operations, CWIT is seen as a strategic asset for long-term growth. EFL’s role in the project showcases the kind of logistics innovation necessary to support this ambition—efficient, sustainable and globally competitive.
By Ifham Nizam
Business
Marine Tourism Roadmap for Sri Lanka launched by SLTDA

Sri Lanka marked a major milestone in its tourism development efforts with the official launch of the Marine Tourism Roadmap on April 10 in Colombo. This initiative, led by the Sri Lanka Tourism Development Authority (SLTDA) with support from the Asian Development Bank (ADB) under its technical assistance program TA9881 SRI: Supporting Tourism Resilience, lays the groundwork for a new chapter in tourism and the nation’s blue economy.
The Marine Tourism Roadmap was developed through an extensive process of data collection, stakeholder consultations and site visits conducted by the ADB appointed international consultant together with officials of the SLTDA. The final validation of the Roadmap was done by the Marine Tourism Steering Committee, which included representatives from key marine related public and private sector institutions. International expertise was provided by Ms. Aleksandra Dragozet (CEO & Founder – Sea Going Green), ADB’s appointed marine tourism consultant, whose guidance ensured the strategy aligned with global best practices for sustainable tourism. The SLTDA officials, Dr. Prasad Jayasuriya, Director-Tourism Planning, Development & Investments and S Dadeepan, Assistant Director-Tourism Planning & Development coordinated all meetings, site visits and activities with relevant stakeholders and the Steering Committee.
The Marine Tourism Roadmap emphasizes a balanced approach between conservation and economic development, promoting eco-friendly activities such as diving, snorkeling, ship wreck diving and marine wildlife watching. These activities are designed to support local livelihoods while safeguarding Sri Lanka’s rich marine biodiversity, particularly coral reefs, marine mammals, and fragile coastal habitats that face increasing environmental pressure. The strategy outlines two categories of coastal destinations: areas covering Kalpitiya through Galle to Trincomalee, which possess established marine tourism industries; and areas covering Mannar, Jaffna and the North-Eastern coastal belt, which are recognized for their emerging tourism potential. Notably, Sri Lanka’s ocean territory is nearly seven times larger than its landmass, highlighting the vast, untapped opportunities for marine-based tourism. The roadmap presents both short-term and long-term implementation strategies, aiming to develop sustainable marine tourism infrastructure, enhance visitor experiences, and ensure the protection and resilience of marine ecosystems in the years ahead.
The Roadmap itself was the result of collaboration among stakeholders covering coastal areas of Negombo, Kalpitiya, Mannar, Jaffna, Mullativu, Trincomalee and Galle and also the Steering committee members representing 18 key marine related public and private sector institutions including Presidential Secretariat, Ministry of Tourism and the SLTDA. This unified approach ensured that the document reflects the diverse perspectives of stakeholders directly involved in marine and coastal tourism development.
Business
Amana Takaful Insurance honored at Best Management Practices Company Awards 2025

Amana Takaful Insurance, Sri Lanka’s most awarded insurer, has been recognized among the Twenty Outstanding Companies at the Best Management Practices Company (BMPC) Awards 2025. The company was also named the Category Winner in the Insurance (Private Sector), acknowledging its excellence in implementing best management practices that drive business success and workforce empowerment.
The BMPC Awards 2025, organized by the Institute of Chartered Professional Managers of Sri Lanka (CPM Sri Lanka), took place on March 21st at Monarch Imperial, Sri Jayewardenepura, Kotte. The awards recognized organizations that demonstrated outstanding management strategies, innovation, and leadership following a rigorous evaluation process.
Farhan Jabir, Head of Human Resources and Secretary to the Board at Amana Takaful Insurance, stated, “This recognition reflects our commitment to fostering an engaged, high-performing workforce. Our strategic HR initiatives have enhanced employee well-being, development, and business success. We will continue to strengthen our best management practices.”
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