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Bulk tea exports show marginal growth while tea bags, packeted tea show decrease

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According to Forbes & Walker comments released on December 22, Sri Lanka tea production for the month of November 2020 totalled 24.8 M/kgs, showing an increase of 0.8 M/kgs vis-à-vis 24.0 M/kgs of November 2019.

Meanwhile, High and Mid Growns have shown a decrease, whilst Low Growns show a fairly significant increase compared to the corresponding month of 2019 and largely reflects a recovery after a drought induced decline in 2019.

January-November 2020 cumulative production totalled 249.9 M/kgs recording a deficit of 28.3 M/kgs vis-à-vis 278.2 M/kgs of January-November 2019. On a cumulative basis, all elevations have shown a decrease, with Low Growns showing the highest deficit.

CTC Cumulative production, January-November 2020 totalled 21.37 M/kgs, recording a 0.23 M/kgs deficit vis-à-vis 21.60 M/kgs of January-November 2019. On a cumulative basis, High Growns have recorded a fairly significant gain YOY, whilst Mediums show a marginal decrease. Low Growns, however, have recorded a fairly substantial decrease.

Tea Exports for the month of November 2020 totalled 20.2 M/kgs, showing a decrease of 1.7 M/kgs vis-à-vis 21.9 M/kgs of November 2019. When analysing the main categories of exports Bulk Tea shows a marginal growth, whilst Tea Bags and Packeted Tea have shown a decrease compared to the corresponding period of 2019. Total revenue of Rs. 17.77 B of November 2020 shows a marginal decrease compared to Rs. 18.29 B of November 2019. This has resulted in the FOB value of Rs. 879.01 (USD 4.78) of November 2020 showing a gain of Rs. 46.31 vis-à-vis

Rs. 832.70 (USD 4.65) of November 2019.

January-November 2020 cumulative exports totalled 241.6 M/kgs showing a deficit of 27.3 M/kgs vis-à-vis 268.9 M/kgs of January-November 2019. Here again, all main categories of exports show a decrease compared to the corresponding period of 2019, with Packeted tea showing a fairly substantial decrease. Meanwhile, revenue too of Rs. 209.02 B has recorded a decrease of Rs. 12.43 B vis-à-vis Rs. 221.45 B of January-November 2019. Total FOB value, however, of Rs. 865.03 (USD 4.71) shows a gain of Rs. 41.52 when compared to Rs. 823.51 (USD 4.63) of January-November 2019.

Turkey has retained the No. 1 position followed by Iraq and Russia with Iran occupying the 4th position. Although Iran occupies the 4th position, a fairly substantial decrease in imports is recorded during January-November 2020 compared to the corresponding period of 2019. Other noteworthy importers are China, Azerbaijan and Chile. Meanwhile, destinations such as Libya, Japan, UAE and Syria have recorded a fairly significant decrease in imports during the period under review. Forbes & Walker said.



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Hemas Consumer strengthens portfolio with L’Oréal partnership in Sri Lanka

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Hemas Consumer, the leading manufacturer and distributor in Sri Lanka’s beauty and personal care sector has strengthened its portfolio of offerings in a groundbreaking partnership with the world’s number one beauty company, L’Oréal. With this partnership Hemas Consumer obtains distributor rights to leverage its sales network and innovative marketing approaches in taking L’Oréal’s wide range of beauty and personal care brands across Sri Lanka.

Commenting on the new partnership, Sriyan de Silva Wijeyeratne, Managing Director, Hemas Consumer & Executive Director Hemas Group said, “We have spent over fifty years building successful and strong consumer brands in Sri Lanka. In keeping with our promise of consumer delight and trust, we are elated to partner a world-class cosmetics group like L’Oréal expanding our existing portfolio with the world’s most sought-after beauty and personal care products.

We are well equipped in our distribution process with island-wide sales channels to serve all parts of the country. I believe this partnership will revolutionize Sri Lanka’s beauty care industry and more prospects await as we continue to look ahead with L’Oréal.”

Sabrina Esufally, Director Business Development and Innovation at Hemas Consumer said, “This partnership will enable Sri Lankans to access the iconic brands and solutions created through years of research and innovation by L’Oréal. In the fast evolving and dynamic beauty industry, the combined strength of Hemas’s local heritage and penetration, and L’Oréal’s global technology and trust is the perfect recipe for consumer delight.”

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DFCC Bank supports industrial excellence by partnering CNCI Achiever Awards

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DFCC Bank PLC, stepped up once again for the 3rd consecutive year to partner with the Ceylon National Chamber of Industries (CNCI) as the principal sponsor and official banking partner of the CNCI Achiever Awards 2020.

The CNCI Achiever Awards was held for the 19th consecutive time to recognize the outstanding efforts of exceptional performers who have molded their respective industries with innovative solutions, while overcoming challenges and meeting the demands of their clientele. This year, the event was recently held under strict health guidelines at the Galadari Hotel in Colombo. 

Commenting on the sponsorship, Chief Executive Officer of DFCC Bank PLC Lakshman Silva stated, “We are pleased to have partnered with the Ceylon National Chamber of Industries (CNCI), as the Main Sponsor and Official Banking Partner of the 19th CNCI Achiever Awards 2020. DFCC is honored to partner in reconciling successful Sri Lankan businesses from various industrial sectors. Our partnership with this prestigious awards programme aligns seamlessly with our commitment to foster and reward industrial growth across the country and support local entrepreneurs in MSME & SME sectors.”

 

 

 

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Lanka SSL triumphs with National Gold and Top Ten Awards

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CNCI Achiever Awards 2020

Lanka Special Steel Limited (Lanka SSL), a trusted name in wires and a fully-owned subsidiary of E B Creasy & Company PLC, was recently awarded the coveted National Gold Award under the Extra Large category in the Manufacturing Sector at the Achiever Awards 2020 for Industrial Excellence.

The annual event organized by the Ceylon National Chamber of Industries (CNCI) was held in March 2021 at Colombo, and celebrated some of the leading industrialists in the country for their tremendous and continued efforts in uplifting and promoting quality standards, productivity, growth and strategy, R&D, employee welfare and others whilst contributing to both the society and economy at large.

‘We are immensely proud to have been recognized with two very prominent awards at this year’s CNCI Achiever Awards. It is a huge leap from just winning a Merit Award the last time around, and this incredible achievement certainly reflects our highly ambitious plans to strive for continued excellence. We would like to thank our valued customers and all stakeholders. We are grateful to our hardworking and committed staff at Lanka SSL who have made this possible,’ said Pravin De Silva, CEO of Lanka SSL.

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