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Celebrating the artistry and essence of coffee

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Lanka Coffee Association, in partnership with Australia’s Market Development Facility (MDF) and Jetwing Hotels, successfully hosted the second annual Sri Lankan Coffee Festival on 19 May 2023.

The coffee sector in Sri Lanka witnessed a notable transformation and attracted a multitude of market actors leading to significant growth in the industry. This surge in participation has propelled the industry to new heights. Recognising the unique opportunities to support the sector, MDF, supported by the Australian government, began working in the coffee industry in 2017.

A key activity that marked the comeback of the Sri Lankan coffee industry was hosting the first-ever Sri Lankan coffee festival by MDF in 2022. Following the success of this inaugural event, the Lanka Coffee Association (LCA), in partnership with MDF and Jetwing Group, hosted the second Sri Lankan Coffee Festival on the 19th of May at Jetwing Colombo 07. The Colombo Coffee Company, Temple Grounds and Soul Coffee were gold, silver and bronze sponsors for the event.

The Australian High Commissioner to Sri Lanka and Maldives, Paul Stephens, was the guest of honour at the festival and delivered the keynote address. He underlined Australia’s support to the growth of the specialty coffee sector in Sri Lanka and noted, “As a nation of coffee drinkers, Australia is pleased to see continued commitment towards developing the coffee sector in Sri Lanka on display here today.”

The 2023 Sri Lanka Coffee Festival showcased the quality and diversity of local coffee and emphasised the importance of promoting investment in this growing sector. The event featured various activities, including panel discussions on the “Upward Journey of the Coffee Industry in Sri Lanka: The Challenges Faced and The Way Forward”. Moreover, the festival provided an excellent platform for coffee growers, processors, and roasters to showcase their products and network with potential buyers and investors.

At the mini exhibition, Colombo Coffee Company, Temple Grounds, Soul Coffee, Helanta Coffee, Elpitiya Plantations, Valli products presented their coffee, allowing the public to experience the unique taste and aroma of locally grown coffee. Concurrently, the finals of the LCA Barista Championship took place.(Regional barista championships were hosted in Dambulla, Galle and Negombo regions throughout April). MDF has actively supported the coffee industry by collaborating with the private sector to improve production and the coffee quality while promoting the industry internationally.

Maryam Piracha, MDF Sri Lanka Country Director, expressed her delight at the successful completion of the 2023 Coffee Festival. She emphasised that MDF has made significant strides in developing and promoting speciality coffee through these events in collaboration with the LCA. MDF is confident that the coffee sector is on track to position Sri Lanka as a global coffee destination.

The audience experienced the unveiling of “Sri Lanka’s Coffee Renaissance: A Guide to the Speciality Coffee Industry” at the festival—a game-changing report by MDF. This report unlocks invaluable insights into the local specialty coffee sector and reveals key investment opportunities. To build on the synergies of coffee and tourism, Jetwing Group, Sri Lanka’s leading hotel chain, was the platinum sponsor for the event. Chairman of Jetwing, Symphony PLC, and The Lighthouse Hotel PLC, Hiran

Cooray added, “Tourism and coffee are like two perfect blends, each complementing the other in creating a unique and unforgettable experience for travellers seeking to discover the beauty and coffee culture of Sri Lanka. Being a part of the 2023 Coffee Festival was a great opportunity to showcase the growing coffee culture and its link to tourism.”

Rinosh Nasar, Chairman, Lanka Coffee Association mentioned, “The Sri Lankan Coffee Festival hosted by the LCA, is a celebration of our rich coffee heritage and the incredible opportunities ahead. At the LCA, we are focused on pushing the growth of the Sri Lankan coffee industry from plant to cup and uplifting the livelihood of our coffee farmers.”

The Australian government’s support has played a pivotal role in ensuring the success and rise of specialty coffee in Sri Lanka. MDF’s collaboration with coffee players in the sector has enabled the Australian government to strengthen bilateral ties between Australia and Sri Lanka, set to impact the global coffee community significantly.



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US trade war poses risks to Sri Lanka’s creditworthiness, warns Fitch

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Meanwhile, tensions between the world’s two largest economies remain high

By Sanath Nanayakkare

Sri Lanka’s already vulnerable financial position could be further threatened by the ongoing US trade war, according to a recent analysis by Fitch Ratings.

The global ratings agency highlights that Sri Lanka, currently rated CCC+, is particularly susceptible to negative impacts if its export earnings are hit by the escalating tariffs.

Fitch Ratings, Hong Kong, in a press release issued on April 15, 2025, warned that increasing US tariffs would weigh on the credit metrics of many sovereigns in the Asia-Pacific (APAC) region. The report emphasised that APAC’s high trade openness and reliance on US demand make it especially vulnerable to the fallout from the trade war.

While the 10% tariffs imposed by the US on most countries are slightly below Fitch’s earlier projections, the agency believes that Asian economic growth will slow as exports and export-oriented investments suffer from tariffs and increased uncertainty.

“This slowdown, coupled with weaker commodity prices and exchange rate adjustments, will affect APAC sovereigns to varying degrees. Several economies in the region, including China, Vietnam, Taiwan, Thailand, and Korea, rely heavily on manufacturing exports and investments, with the US serving as a major export market. These economies could face significant challenges as a result of the trade war,” it stated.

Fitch noted that government policy responses would be crucial in determining the ultimate impact on APAC sovereign ratings. While some higher-rated jurisdictions like China, Singapore, and Taiwan may have the fiscal space to implement stimulus measures, some others, including Sri Lanka, have limited headroom due to high debt levels and constrained fiscal consolidation since the pandemic and its own economic crisis.

The ratings agency also cautioned that the US dollar could appreciate against some APAC currencies, potentially increasing debt burdens for countries with a large share of foreign-currency debt. Furthermore, foreign-exchange reserves could shrink if authorities intervene to support their currencies, further straining economies with low external buffers like Sri Lanka.

Fitch concluded that countries with relatively low external buffers, such as Bangladesh and Sri Lanka, were particularly at risk if their export earnings were negatively impacted by the tariffs.

Meanwhile, tensions between the world’s two largest economies remain high.

After the White House website claimed that imports from China to the US would face tariffs of up to 245 percent, the Chinese Foreign Ministry warned yesterday that China would pay no attention to the US’s further tariff numbers game, and it would take ‘resolute countermeasures’ and ‘fight to the end’ if Washington persisted in substantially infringing on China’s rights and interests.

China Daily – the ruling Chinese Communist party’s English-language mouthpiece published a sharply worded editorial on April 15, rejecting U.S. President Trump’s repeated claims that the US had been ‘ripped off’ by China.

“The U.S. is not getting ripped off by anybody. It is taking a free ride on the globalisation train and is living beyond its means,” China Daily argued.

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CEAT’s share in Sri Lanka’s Original Equipment tyre market tops 90%

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Now supplies 11 automobile brands assembling vehicles in Sri Lanka, contributing to local value addition

Six years after it entered into its first Original Equipment Manufacturer (OEM) partnership in Sri Lanka, CEAT Kelani Holdings has grown into a significant contributor of value addition to the country’s burgeoning automobile assembly industry.

Locally-manufactured CEAT tyres are now original equipment in 11 brands of vehicles rolling off assembly lines in Sri Lanka, ranging from Sports Utility Vehicles (SUVs), cars, buses, lorries, pick-up trucks, motorcycles and scooters, the company said.

These tyres, many of them designed precisely to vehicle manufacturer specifications, fit more than 30 models of vehicles, including 16 bus models and five models of motorcycles now assembled in Sri Lanka.

CEAT Kelani currently supplies more than 150,000 Original Equipment (OE) tyres annually to the local vehicle assembly industry covering more than 90 per cent of vehicles assembled in Sri Lanka, and the OE segment accounts for 12 per cent of the CEAT branded tyres sold in the domestic market.

“The OEM partnerships a manufacturing brand like CEAT has entered into are extremely significant to all tyre users, because they demonstrate the automobile manufacturers’ confidence in the quality and performance of the products,” CEAT Kelani Chief Operating Officer Mr Shamal Gunawardene observed. “These partnerships are based on stringent evaluations of our tyres by experts and are based on CEAT’s ability to satisfy the technical requirements of each type of vehicle.”

“Through OEM projects, CEAT enhances its own manufacturing capabilities, aligns with global quality standards, and tailors products to meet local needs,” he added.

Among the automobile brands that have chosen CEAT tyres as original equipment in Sri Lanka are Hyundai, JAC, JMC, DFSK, Mahindra, Micro, Tata, Lanka Ashok Leyland, TVS, Bajaj and Dyno.

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Citrus Resorts & Hotels witness surge in bookings and interest during festive season amidst travel boom

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Citrus Resorts & Hotels, a leading name in Sri Lanka’s hospitality sector, has reported a significant increase in bookings and inquiries, reflecting a growing demand for premium travel experiences. With two iconic beachfront properties—Citrus Waskaduwa and Citrus Hikkaduwa—the brand continues to attract travellers seeking both relaxation and adventure.

Nestled along Sri Lanka’s southwestern coast, Citrus Waskaduwa stands as the ultimate getaway for those looking to unwind. Offering 140 rooms, including 7 suites, an executive suite, and a presidential suite, the resort boasts private balconies with panoramic views of the Indian Ocean.

Guests can indulge in a diverse culinary experience across multiple dining venues, including Lemon Sun Restaurant, Pomelo Hi Bar, Aqua Peel Pool Bar, and Pips n Sips Coffee Shop. The Asian-inspired Citron Senses spa further enhances the experience with expertly curated Eastern and Western treatments by skilled Balinese therapists.

Catering to families and corporate groups who plan to visit during the April holidays, the resort offers exclusive packages for fun-filled getaways as part of its Avurudu celebrations. Guests can enjoy a festive beachfront experience with traditional activities, including Beli Mal tea on arrival, a morning and evening tea table, and a special Sinhalese lunch buffet. The celebrations also feature Avurudu games with equipment setup and access to the swimming pool with changing rooms. Additionally, special rates for rooms and discounts on spirits, chasers, and bites make the occasion even more memorable.

For those seeking a vibrant beachside experience, Citrus Hikkaduwa offers the perfect mix of relaxation, culture, and adventure. With 90 stylish rooms spanning Deluxe, Superior, and Standard categories, the resort provides a comfortable stay in the heart of Sri Lanka’s southern coast.

Adrenaline seekers can enjoy scuba diving, wreck diving, snorkelling, deep-sea fishing, jet skiing, and surfing lessons—an opportunity to experience Hikkaduwa’s famous waves firsthand. Additionally, curated excursions, such as the Madu River Boat Safari, Galle City Tour, and visits to turtle hatcheries, offer guests a chance to explore the region’s natural and cultural heritage.

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