Business
Seasonal swings in Sri Lanka’s mango market: A balancing act with economic insights
Chandula Idirisinghe is a Research Assistant working on Agriculture and Agribusiness Development at the Institute of Policy Studies of Sri Lanka (IPS). He holds a BSc (Hons) in Agricultural Technology and Management, specialising in Applied Economics and Business Management from the Faculty of Agriculture, University of Peradeniya. His research interests include agricultural policies and institutions; agricultural productivity; agribusiness value chains; food security and environmental and natural resource policies.
By Chandula Idirisinghe
Sri Lanka’s mango industry, deeply woven into the cultural fabric and dietary needs of Sri Lanka, is thriving with a 12.2% production boost and a 5% yield improvement over the past two decades.
Yet, the industry is characterised by drastic seasonal price swings. Prices are currently low, and another significant drop is expected between September and January, mirroring last year’s 70% plunge in Karthakolomban mango prices.
Regional production concentration has led to price disparities nationwide, highlighting the need for better demand and supply management.
The blog suggests a dynamic, multi-pronged strategy to tackle seasonality over the price disparity based on an IPS study on developing food loss reduction pathways through smart business practices in mango value chains: promoting value-added products, optimising logistics and storage, forming farmer clusters, and tapping into export markets.
Mango is the most widely cultivated fruit crop after bananas in Sri Lanka. According to the Department of Census and Statistics (2023), the average mango cultivation area over the past five years (2018-2023) has expanded by 6.9%, reaching 28,372 hectares, compared to the 2002-2007 average. Furthermore, national mango fruit production has demonstrated a remarkable rise of 12.2%, with an increase per hectare of mango fruit production by 5%.
Sri Lanka boasts a longstanding tradition of mango cultivation. Mangoes are the third-highest consumed fruit in terms of value, following only bananas and papayas. The traditional cultivars ‘Betti’, ‘Karthacolomban’, ‘Vellaicolomban’, ‘Kohu’, and ‘Villard’, and the modern cultivar ‘TomEJC’ have become dominant players within Sri Lankan wholesale/ retail markets.
Over the past two decades, the geographical distribution of mango cultivation has undergone a notable transformation. Nearly two-thirds (65.36%) of mango cultivation in Sri Lanka is currently concentrated in just nine districts. While Kurunegala historically held the dominant position as the leading producer, recent years have witnessed a significant decline in the mango-cultivated areas. Anuradhapura and Monaragala have experienced significant growth, with Anuradhapura surpassing Kurunegala as the current leader in terms of cultivation area.
Witnessing a noteworthy expansion into international markets, fresh mango fruit exports have exhibited a significant upward trajectory since 2017, reaching 374 metric tons by 2022. Dried mango exports followed similar growth, experiencing a notable rise from 2019 to 2021, resulting in 63 metric tons exported in 2022. Despite the recent progress in Sri Lanka’s mango production, fueled by innovative, high-yielding cultivars tailored to specific regions, a persistent challenge remains: the seasonality of production.
The Seasonality Factor and Its Economic Impact
In Sri Lanka, mango production exhibits two distinct production peaks over the year, which pave the way for drastic seasonal price fluctuations. Mango trees in the wet and intermediate zones typically bloom from January to March, with peak harvests from April to July (Yala Season). Conversely, in the dry zone, blooming occurs from July to September, with peak harvests from October to January (Maha season). These regional variations in blooming and harvesting periods are influenced by Sri Lanka’s diverse climatic conditions, primarily by its varying rainfall patterns.
This seasonality creates classic supply and demand imbalances, marked by distinct dual peaks and troughs in prices each year, with the highest fluctuations observed over the past two years. For instance, price data from 2023 shows that even popular cultivars like Karthakolomban can experience significant price drops. During the off-season in September, prices peaked at 252.1 Rs/kg when mangoes were less available. However, by the next peak harvesting time in December, prices had dropped by as much as 70%, reaching 71.2 Rs/kg as the market became saturated with mangoes.
Moreover, Sri Lanka’s mango market shows notable nationwide price disparities – for the same cultivar – alongside seasonal price fluctuations. The mango harvest from wet and intermediate zones saturates their regional markets from April to July, while markets in dry zones are saturated from October to January.
Despite investing in high-yielding cultivars, growers face unpredictable income due to fluctuating market prices, creating financial strain for them. Conversely, on the consumer side, price volatility disrupts purchasing behaviour. During off-seasons, limited availability and high prices can restrict their access to mangoes, particularly for low-income households. This not only impacts dietary choices but also undermines the mango fruit’s role as an affordable source of essential vitamins and minerals.
Way Forward: A Multi-Pronged Approach
A strategic and coordinated approach involving all value chain actors—from growers to consumers—can effectively stabilise price levels, mitigate growers’ financial hardships, and ensure affordable fruit availability year-round.
Rerouting Demand to Value-Added Products: Promoting value-added products such as pulp, jams, dried slices, and chutneys, produced utilising surplus mango fruit from peak seasons, assists in meeting year-round demand while mitigating heightened demand for fresh mangoes during off-seasons.
Logistics and Distribution Network Optimisation: A strengthened distribution network with improved cold chain facilities can mitigate price disparities and ensure nationwide availability of mangoes at fair prices. This involves identifying key production districts, improving infrastructure, streamlining transportation routes, establishing efficient market linkages, and enhancing access to market information. Further, buffer stocking curbs the excessive volatility of prices of fresh mangoes by regulating the gradual movement of fresh mangoes into and out of the markets.
Establishment of Farmer Clusters: Building on a strong foundation, Sri Lanka has already established successful farmer clusters for commercial mango production, such as those under the ‘Nucleus Estates’ initiative by the Agriculture Sector Modernization Project (ASMP) and Lanka Fruit and Vegetable Producers, Processors and Exporters Association (LFVPPEA). Farmer clusters foster sharing knowledge and supply opportunities, and pooling of resources, thereby leveraging growers with economies of scale, amplifying their collective voice, and ensuring a consistent supply.
Untapping Export Potential: Several global markets, like the EU, USA, Middle East, and Australia, hold significant export potential for Sri Lankan mangoes. Meeting their stringent quality standards requires a multi-faceted approach: improving orchard management with Good Agricultural Practices (GAP), Integrated Pest Management (IPM) and training on post-harvest handling and quality control compliance with international regulations. IPS, in collaboration with LFVPPEA, has already supported commercial mango growers in harnessing export potential through training and capacity building under an Australian Centre for International Agricultural Research (ACIAR) project (CS/2020/193).
This blog is based on an ongoing IPS study conducted under the ACIAR-funded project ‘Developing food loss reduction pathways through smart business practices in mango and tomato value chains in Pakistan and Sri Lanka’.
Link to original blog: https://www.ips.lk/talkingeconomics/2024/07/09/seasonal-swings-in-sri-lankas-mango-market-a-balancing-act-with-economic-insights/
Business
Ceylon Chamber Re-elects Chairperson Krishan Balendra at 187th AGM
The Ceylon Chamber of Commerce announced the re-election of Chairperson Krishan Balendra and the election of its Board for the Year 2026/27 at the Chamber’s 187 th Annual General Meeting on June 25. High Commissioner of Britain to Sri Lanka, Andrew Patrick, attended as Chief Guest.
The 2026/27 office-bearers are Chairperson Krishan Balendra, – Chairperson John Keells Holdings PLC, Vice Chairperson Bingumal Thewarathanthri – CEO, Standard Chartered Bank Sri Lanka, and Deputy Vice-Chairperson Vinod Hirdaramani – Chairman, Hirdaramani Group.
Jayanthi Dharmasena – Managing Director, Hayleys Agriculture Holdings Ltd., Kasturi Chellaraja Wilson – Chief Operating Officer, Head of APAC – 5Hour International Corporation Singapore, Shibani Thambiayah – Managing Director, Renuka Hotels PLC,Supun Weerasinghe – Director/Group CEO – Dialog Axiata PLC, and Shiran Fernando – Secretary-General and CEO will serve as Board Members. Rohana Dissanayake – Group Chairman and Managing Director of David Pieris Motor Company Pvt. Ltd. will also join the Board, replacing Bernhard Stefan – Managing Director – Nestlé Lanka PLC, who relocated overseas.
In his remarks, Balendra noted that over the past year, the Chamber adopted a more solutions-oriented approach to advocacy, focusing not only on identifying challenges but also on developing constructive recommendations in collaboration with government, industry stakeholders, and development partners, with this approach yielding stronger results. “Through our engagement in the Budget 2026 process, eighteen recommendations proposed by the Chamber were incorporated into the national budget, covering areas such as trade facilitation, investment promotion, digitalisation, infrastructure, and improving the ease of doing business.
This builds upon the strong momentum established in previous years and demonstrates the value of evidence-based, constructive engagement.
The Chamber also contributed to addressing emerging global trade challenges, including tariff-related issues affecting Sri Lankan exports. By representing private sector perspectives in Presidential Committees, we supported efforts to safeguard export competitiveness and strengthen trade resilience.”
Beyond advocacy, it significantly expanded its engagement footprint, strengthening bilateral partnerships across more than twenty countries, and supporting more than 1,800 SMEs through training, advisory services, and market access initiatives.
He added that over the next year, the Ceylon Chamber is committed to deepening engagement with members, strengthening global partnerships, enhancing support for SMEs, and accelerating efforts to promote exports and attract investment, and is committed to working with the Government and stakeholders to ensure a resilient and prosperous Sri Lanka.
Business
Kandy’s singing couple striking a harmonious chord
In the hill capital of Kandy, a husband-and-wife duo has won the admiration of music lovers with their shared passion for singing and their dedication to the art.
Vijitha Kingsley Bandara and Umesha Kalhari Navaratne have become familiar voices among audiences in Kandy, entertaining crowds with their musical talents while building a reputation as a versatile singing couple.
Kingsley began his musical journey at the age of 17, performing at outdoor musical shows before gaining opportunities to showcase his talent at several hotels in the Kandy area. His performances for local and foreign tourists further enhanced his reputation as a singer. He later took his musical talents overseas, entertaining audiences in several countries.
For the past 12 years, Kingsley has been engaged in singing at establishments operated by the Devon Group and The Grand Kandyan Hotel in Kandy, following an opportunity extended by Group Chairman Gamini Weeraratne.
Supporting him both in life and music, Umesha has also established herself as a singer, performing at Devon establishments. She also runs a home-based cake-making venture.
The couple, who continue to receive appreciation from music enthusiasts, said they are ready to accept invitations to perform at musical events across the country. They can be contacted on 071-1519130.
Text and Pic by SK Samaranayake
Business
ComBank unveils GIG+ for Lanka’s digital workforce
Recognising the rapid emergence of the gig economy in Sri Lanka, the Commercial Bank of Ceylon has introduced ‘ComBank GIG+’ – a specialised banking solution designed for freelancers, digital entrepreneurs, social media influencers, and individuals and businesses earning in foreign currency through overseas engagements to receive their foreign earnings, including PayPal-linked withdrawals, through a structured banking account.
ComBank GIG+ reflects a decisive shift in the country’s employment landscape, where a growing number of professionals are leveraging global digital platforms and remote work opportunities to build independent income streams. From freelance service providers operating on platforms such as Fiverr, Upwork and Freelancer.com, to content creators monetising audiences across YouTube, TikTok, Meta and X, this segment represents a dynamic and increasingly influential contributor to foreign exchange inflows.
ComBank GIG+ is tailored to meet the specific needs of these digital earners, offering account options in Sri Lanka Rupees as well as major foreign currencies including USD, EUR, GBP and AUD. The account is available to Sri Lankan citizens aged 18 and above residing in the country, as well as duly registered business entities, subject to verification of foreign currency income derived through recognised digital and remote work channels.
Commenting on the introduction of ComBank GIG+, Hasrath Munasinghe, Chief Operating Officer of Commercial Bank said: “The rise of independent digital earners represents a structural shift in how value is created and exported from Sri Lanka. With ComBank GIG+, we are establishing a banking framework that not only recognises this segment, but also integrates it more meaningfully into the formal financial system. This enables individuals and businesses operating beyond traditional employment models to build a verifiable financial track record, access formal financial services, scale their operations, and contribute more visibly to the country’s economic growth.”
The launch of ComBank GIG+ is particularly timely following Sri Lanka’s recent enablement of PayPal linked withdrawals, which has simplified the process of bringing overseas digital earnings into the country.
In addition to facilitating PayPal-linked withdrawals and foreign currency inflows, the Bank said the ComBank GIG+ account offers a range of value-added benefits including first-year fee waivers on credit cards and digital banking services, preferential foreign exchange rates for qualifying conversions into Sri Lanka Rupees, and the opportunity to establish a structured banking relationship that may support future access to financing and other financial solutions. These features are designed to enhance financial efficiency while supporting the day-to-day banking needs of digitally active customers.
By aligning its product innovation with evolving global work patterns, Commercial Bank continues to strengthen its position as a forward-looking, technology-driven institution. The introduction of ComBank GIG+ underscores the Bank’s commitment to supporting new economic segments, enhancing financial inclusion, and enabling Sri Lankan talent to participate more effectively in the global digital economy.
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