Business

Agri SMEs looking to gain from Europe’s appetite for healthy food choices

Published

5 years ago

2020/10/14

Sahan Weerasooriya

AHK Sri Lanka Chief Delegate Andreas Hergenröther. Pic by Jude Denzil Pathiraja

by Sanath Nanayakkare

Sri Lankan agricultural sector stakeholders and export- oriented SMEs are enthusiastic to showcase their export quality fresh fruits, vegetables and spices at the Fruit Logistica international trade show to be held from February 3-5, 2021 in Berlin.

The German Industry and Commerce Delegation Office in Colombo (AHK Sri Lanka) recently organized a press conference and virtual session to increase awareness in this regard.

The treasurer of the Spice Council of Sri Lanka speaking at the event said that fresh fruits, vegetables and spices are more popular in Europe than ever before which means Sri Lankan agri entrepreneurs should be able to gain from this export trade platform.

“There is a flourishing demand for these items as more and more Europeans are cooking lavish dishes at home in the Covid situation. In this background, Sri Lankan exporters of these commodities have a good opportunity to enhance their visibility in the EU market. The timing is just right. We have our exotic products of high quality which we can display at the Berlin Trade Show, and get the most out of having our presence there. However, we can’t afford to do it on our own because of the cost factor. We are not asking things for free, but if the Agriculture Ministry could chip in with co- funding, our participation at the trade show could become a reality. Anyway, I don’t know if there’s enough time to approve funding for this purpose as the national budget is coming up next month,” he said.

A government agriculture officer who was also part of the webinar said that she would refer the matter to the relevant authorities.

When The Island Financial Review asked how Sri Lanka’s fresh fruits and vegetable exporters can increase their visibility in the European market, Linda Mense (Berlin) Sourcing + Markets Fresh Fruit and Vegetables (Egypt, Ethiopia, Peru, Ukraine) cited Peru as the best example Sri Lanka could take inspiration from. “Peru managed to become prominent in terms of export of fresh fruit to Europe as they had a clear strategy to do so. Peru has come a long way from where it was some 15 years ago. They had a very clear strategy to showcase their fresh produce to the world. They put a lot of effort and also funding into promoting their country pavilion at the Berlin Trade Show, as a result of which Peru has today become one of the most credible and valuable exporting countries for fresh fruits and vegetables in Europe. There’s a lot to learn from Peru’s successful journey in this sphere” she said.

“Moroccan fruits and vegetables are in high demand in Germany. They are certified and fulfill the European standards. They offer different assortment of fruits and vegetables: watermelon, oranges, cantaloupe melon, bell pepper, tomatoes, plum tomatoes, cherry tomatoes, citron, potatoes, onions etc’, AHK Sri Lanka Chief Delegate Andreas Hergenröther told The Island Financial Review.

Europe’s consumers and importers want quality and transparent proof of origin. For this reason Global G.A.P. certification is one of the most important European standards for sustainable production and high food safety which is a must for exporters of fresh fruit and vegetables.

‘Fruit Logistica’ is the world’s leading trade fair for fruits, vegetable and spices attracting more than 3,300 exhibitors from over 90 countries, and more than 72,000 trade visitors from over 135 countries.The trade show offers exhibitors an international platform with total visibility for fresh produce and other agricultural products, while providing opportunity for face-to-face meetings with potential business partners and strengthening existing business relations with suppliers and customers. The trade show in Berlin will also showcase innovative machinery, digitalisation, automation and network technology with special focus on greenhouse technology. During the press conference, AHK Sri Lanka Chief Delegate Andreas Hergenröther highlighted the importance of raising awareness for ‘made in Sri Lanka’ products in international markets, and increasing business opportunities for Sri Lankan fresh fruits and vegetable exporters.

Participating source markets experts pointed out that European consumers are willing to pay extra for sustainable produce and commitment to protecting the environment.

All News Advertisement

Business

Embedding human rights, equity and integrity into business leadership

Published

15 hours ago

2026/03/5

Sahan Weerasooriya

Rathika de Silva, Executive Director

At its 2026 Social Sustainability Programme Kick-Off, the UN Global Compact Network Sri Lanka convened business leaders to advance the translation of global ambition into practical corporate action on inclusion, integrity and human rights.

On 24 February 2026, the UN Global Compact Network Sri Lanka (Network Sri Lanka) convened business leaders at Barefoot Garden Café for its 2026 Social Sustainability Programme Kick-Off, delivered in collaboration with Good Life X.

The gathering did more than introduce a calendar of events. It positioned Sri Lanka’s corporate community within the broader direction of the UN Global Compact’s 2026–2030 global strategy — a strategy anchored in three imperatives: equipping companies to act, catalyzing collective action, and advancing the business case for responsible leadership.

At its core, the 2026 Social Sustainability agenda is designed to move companies from commitment to capability.

Within the Diversity & Inclusion Working Group, this means building practical pathways toward equal pay for equal work and strengthening male allyship as a governance issue rather than a cultural afterthought. It means examining sexual and reproductive health, disability inclusion, and mental health not as employee benefits, but as structural determinants of productivity and retention. It means sharpening strategic communications so inclusion is embedded in brand integrity. It also means applying science-based behavioural change approaches to shift organizational culture in measurable ways.

Across the Business & Human Rights Working Group, equipping companies takes the form of deepened engagement on decent work and living wage implementation, strengthening human rights due diligence processes, and addressing emerging risk areas such as AI and digital rights. It extends to reinforcing business integrity and anti-corruption frameworks, understanding the social dimensions of a just transition, and recognizing the link between child rights, nutrition, and workforce productivity.

Business

Union Bank to raise LKR 3 Bn via Basel III Compliant Debenture Issue

Published

15 hours ago

2026/03/5

Sahan Weerasooriya

Shanka Abeywardene

Union Bank of Colombo PLC announced its proposed Debenture Issue 2026, a strategic move aimed at raising up to LKR 3 billion. This issue is designed to bolster the Bank’s Tier II capital base and provide a robust financial foundation for its upcoming growth initiatives.

The offering consists of Basel III compliant, listed, rated, unsecured, subordinated, redeemable high-yield debentures with Non-Viability Conversion. The instrument has been assigned a rating of BB (lka) by Fitch Ratings (Lanka) Ltd, reflecting the bank’s creditworthiness and the structured nature of the subordinated debt.

Investors can choose from three distinct interest structures starting from a high-yield 13% fixed rate per annum (Type A). This option is paid annually, while Type B offers a 12.5% fixed rate paid semi-annually (12.89% AER). For those seeking market-linked returns, Type C provides a floating rate of the 182-days Treasury Bill rate plus a 400-basis point margin, also paid semi-annually.

The debentures are priced at LKR 100 per unit with a 5-year tenure (2026–2031). The initial issue size is set at 20,000,000 debentures with an option to raise 10,000,000 at the discretion of the Bank and is scheduled to open on 10 March 2026.

Shanka Abeywardene, Chief Financial Officer of Union Bank stated “This debenture issue marks a significant step in the Bank’s journey towards enhanced financial stability. By strengthening its capital adequacy, Union Bank is well-positioned to navigate evolving market conditions while fuelling its long-term strategic objectives for sustainable growth”

Business

Sanjay Kulatunga appointed to WindForce Board

Published

15 hours ago

2026/03/5

Sahan Weerasooriya

Sanjay Kulatunga

WindForce PLC announced the appointment of Sanjay Kulatunga as an Independent, Non-Executive Director to its Board with effect from 03rd March 2026, following the resignation of Dilshan Hettiaratchi. The appointment further strengthens the Company’s governance framework, strategic oversight, and long-term decision-making capabilities.

Kulatunga brings an established track record as a founder, entrepreneur, and senior executive across financial services and export-oriented industries. He is the Chief Executive Officer and Co-Founder of LYNEAR Wealth Management, a boutique investment firm established in 2013, which has since grown to become one of Sri Lanka’s largest private wealth management institutions, serving high-net-worth individuals as well as local and international institutional clients.

Prior to founding LYNEAR, Kulatunga played a pivotal role in the establishment of Amba Research, an investment research offshoring firm rooted in Sri Lanka and now operating as part of Acuity Analytics.

Over the years, he has contributed extensively to several key national institutions. His previous appointments include serving on the Financial Sector Stability Consultative Committee of the Central Bank of Sri Lanka, as well as the Board of Investment of Sri Lanka and the Securities and Exchange Commission of Sri Lanka.