Business

Bumper turmeric harvest at Kuruegala Plantations

Published

5 years ago

2021/07/11

By Randima Attygalle

Reputed for its core coconut plantation business yielding around 15 million nuts per year, Kurunegala Plantations Limited (KPL), a fully owned government company, is also well known for its intercrops.

Currently operating under the Coconut, Kithul and Palmyrah Cultivation Promotion and Related Industrial Product Manufacturing & Export Diversification Ministry, KPL recently gathered a bumper harvest of turmeric, earning a profit of LKR 11 million.

Turmeric is KPL’s latest commercial inter-crop joining pepper, cinnamon, cocoa, mango, dragon fruit, guava, mangosteen, cashew and rambutan. The success of turmeric is encouraging, especially in the aftermath of government’s import ban, says KPL CEO S.M.M. Samarakoon.

“Although turmeric was grown in a very small scale by KPL, this is the first time we did it in a bigger way with the assistance from the Department of Export Agriculture (DEA) which guided us from planting, providing technical know-how up to harvesting.”

“The maiden harvest of our first large scale cultivation is very encouraging. It is also aligned with government’s Saubhagye Idiri Dekma,” Samarakoon notes.

Five acres of KPL estate land in Kalawewa, Dodangaslanda, Kurunegala, Narammala, Dambadeniya, Attanagalla and Katugampola were planted with 3,600 kg of seed material.

“The harvest was 36,000 kgs and the highest profit per land unit was derived from our Kalawewa estate,” says Samarakoon. Encouraged by the performance, KPL has extended turmeric cultivation to 20 acres now.

Turmeric is an ideal inter-crop with coconut and mangoes Samarakoon points out. “Out of our 12,250 acres of land, we maintain 9,000 acres of coconut and there is ample space between coconut palms for turmeric.”

The turmeric seeds for their first large scale cultivation were sourced from Hasalaka says Samarakoon adding that under their joint venture with DEA (Department of Export Agriculture), they distribute seed material to other growers and nurseries.

An ideal smallholder crop, turmeric which thrives in the dry zone will help alleviate poverty, says the senior planter.

“The return on investment is very high and with proper irrigation facilities in place, farmers can plant it around the year without being confined to Yala and Maha seasons,” says Samarakoon.

Superior quality turmeric rich in flavour and pungency is now sold under the KPL brand and can be ordered through its webpage or facebook page.

Turmeric, as Director (Research), Intercropping & Betel Research Station, Department of Export Agriculture (DEA), Dr. H.M.P.A Subasinghe explains, grows best in Matale, Kurunegala, Kandy, Ampara, Gampaha and Anuradhapura and presently covers an area of over 1,420 ha. Although we used to import a sizeable amount from India, today imports are completely banned, he said.

To bridge the shortfall, DEA has taken several measures to expand local cultivation. These include providing subsidies for seed rhizomes, registering farmers producing seed material, technology transfer through training programmes and mass media, new planting programmes for expanding the cultivation and subsidies for sprinkler irrigation systems and post-harvest machinery.

DEA also assists growers with production of planting material through small rhizome cuttings and tissue culture. Machinery for processing including peeling, drying and powdering and making organic fertilizer recommendations are among services provided.

“Last year we exported 69.2 Mt of turmeric to Australia, Canada, France, Germany and the Maldives earning Rs. 86.3 mn.,” says Subasinghe. He says turmeric is an ideal inter-crop with coconut as comparatively a higher returns can be had by maximizing land use,”

Urging other potential growers to take a cue from KPL’s success story, Subasinghe cites good practices promoted by the DEA for results already obtained. Selection of healthy seeds, planting at the right time, land preparation with recommended practices, supplementary irrigation with sprinklers, moisture conservation practices and inter-cropping with coconut under shade (around 30%) are notable among them.

Sri Lankan turmeric is superior to Indian turmeric in many ways, notes the agriculturist. “Curcumin is the most important chemical component in turmeric and our turmeric has a higher curcumin content. While Indian turmeric contains 2 to 3.5% of Curcumin, local turmeric contains 3 to 7%. Sri Lankan turmeric also contains a higher level of flavonoid and oil.”

Besides being a flavouring agent, turmeric also has considerable medicinal properties. Notable for antioxidant and anti-inflammatory abilities, turmeric increases brain functions and lowers the risk of heart disease, cancer and Alzheimer’s disease, ayurvedic physicians say. It also has anti-ageing properties and maintains skin elasticity. Turmeric can also help reduce depression and keeps arthritis at bay.

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Business

ADB approves $100 million loan to boost skills development and jobs for youth in Sri Lanka

Published

11 hours ago

2026/10/2

Thilina Walpola

The Asian Development Bank (ADB) has approved a $100 million results-based loan to help Sri Lanka transform its technical and vocational education and training (TVET) system, equip more young people with industry-relevant skills, and strengthen the country’s competitiveness and inclusive growth.

The Skills Development System Transformation Program will support the Government of Sri Lanka’s efforts in improving the quality and relevance of skills training, strengthening links between training providers and industries, and expanding employment opportunities for youth. The program will increase women’s employment opportunities in nontraditional jobs in fields including automotive technology, engineering, information and communications technology, construction, and renewable energy.

“A skilled workforce is essential to Sri Lanka’s long-term economic transformation and competitiveness,” said ADB Country Director for Sri Lanka Shannon Cowlin. “This program will help create stronger pathways from education to employment by making training more responsive to industry needs, expanding opportunities for young people and women, and ensuring that graduates have the skills required by a modern and evolving economy.”

Though Sri Lanka’s economy is recovering, it faces skills shortages in priority sectors, high youth unemployment, and low female labor force participation. Many employers report difficulty finding workers with the skills needed in a changing economy.

Aligned with the Government of Sri Lanka’s Technical and Vocational Education and Training Sector Strategic Framework 2026–2035, the nationwide program will be implemented from 2027 to 2031 and is expected to directly benefit more than 100,000 young people through improved access to quality, employment-oriented training.

Business

USD 40.84m pipeline to secure aviation fuel supplies to BIA

Published

11 hours ago

2026/10/2

Thilina Walpola

By Ifham Nizam

The government has cleared a USD 40.84 million and Rs. 8,548.75 million contract to build a dedicated aviation fuel pipeline from Muthurajawela to Bandaranaike International Airport (BIA), alongside a massive new fuel storage facility with a capacity of 92,000 cubic metres.

Energy Minister Anura Karunatilaka said the project represented a major investment in strengthening the infrastructure underpinning Sri Lanka’s aviation fuel supply and ensuring more reliable fuel availability at the country’s main international airport.

‘This project will provide the infrastructure required to strengthen the reliability and continuity of aviation fuel supplies to Bandaranaike International Airport, Karunatilaka said.

The contract has been awarded to China Petroleum Pipeline Engineering Company Limited, following an international competitive procurement process in which three bids were received.

The project will see a new aviation fuel storage tank complex constructed at Muthurajawela, together with the associated infrastructure required for handling and transferring aviation fuel.

Business

CSE activity up, turnover weak at Rs. 1.4 billion

Published

11 hours ago

2026/10/2

Thilina Walpola

By Hiran H Senewiratne

Trading activity on the Colombo Stock Exchange (CSE) gathered pace yesterday as global fuel prices began to show signs of easing, according to market analysts.In this context, both indices moved upwards. All Share Price Index up by 67.97 points while S and P SL20 up by 8.30 points.

Turnover stood at Rs 1.4 billion with seven crossings. Those crossings were reported in Sampath Bank 1.7 million shares crossed to the tune of Rs 238 million and its share price traded at Rs 140, Access Engineering two million shares crossed to the tune of Rs 159 million and its share price traded at Rs 79.50, LOLC one million shares crossed to the tune of Rs 129 million and its share price traded at Rs 129, HNB 100,000 shares crossed to the tune of Rs 38.4 million and its share price traded at Rs 384, JKH 1.9 million shares crossed to the tune of Rs 35 million and its share price traded at Rs 18.60, Hayleys 100,000 shares crossed to the tune of Rs 22.50 million and its share price traded at Rs 225 and Richard Pieris 847,000 shares crossed to the tune of Rs 22 million and its share price traded at Rs 25.50.

In the retail market top seven companies that have mainly contributed to the turnover were Sampath Bank Rs 114 million (813,000 shares traded), JKH Rs 100 million (5.3 million shares traded) LB Finance Rs 49 million (325,000 shares traded), HNB Finance Rs 30 million (27 million shares traded), HNB Rs 27 million (70000 shares traded), NTB Rs 25 million (82000 shares traded ) and Lanka IOC Rs 21 million (666,000 shares traded). During the day 65 million shares volumes changed hands in 10433 transactions.

The Banking and manufacturing sector counters performed well. In the banking sector Sampath Bank let the market while manufacturing sector especially JKH also significantly performed well. With the fuel revision Land IOC also a significant stock at the floor.

Meanwhile, First Capital Treasuries said that Ramesh Schaffter resigned as a Non-Independent Non-Executive Director with effect from October 1, to facilitate the restructuring of the company’s board.

Yesterday the Central Bank announced the US Dollar rate as against rupee. The rupee was quoted flat at Rs 330.65/80 to the US dollar in the spot market , while bond yields dropped, dealers said.