Business
Tea revenue January to April 2021 Rs.81.27 Billion surpasses YOY 2020
By Steve A. Morrell
Tea Brokers reported last week; particularly, Forbes & Walker, and Asia Siyaka Tea Brokers, revenue from Tea topped Rs.81.27 Billion January to April 2021, Surpassing 2020 the same period by 16. 90 Billion. Tea revenue 2020 the same period was recorded 64. 37 Billion. Dollar Revenue was recorded at 417 million.
We have not received monetary performances from other sectors including garments. However according to the Plantation sector, Tea and Rubber continue to be productive and reportedly the main revenue source to ensure substantial contribution to economy of the Country. Brokers and all areas of the Tea sector, including Buyers, shippers, Plantation Companies, Tea Small Holders, and the Tea Factory Owners, contributed to the success of the industry and also notably, the industry did not falter midst the corona crisis. It is also of speculation that Tea and Rubber are the only income earners that contribute to the economy when most others succumbed to the dilemma enveloping the country at large.
Brokers we quoted further said exports for April 2021, at 16.31 kilo, shows decrease of 1.84 million kilos comparing April 2020.Bulk Tea recorded decreases, However, conversely, Tea bags, and packeted Tea have shown increases over 2020.
The FOB value. ( ‘Free on Board’ broadly indicates the buyer takes responsibility for shipping damage, and applies to surface shipping) was recorded at Rs.959.13, (US $ 4.90), the highest FOB value recorded. the Brokers said.
Turkey retained the leading slot importing Ceylon tea. Iraq, Russia, and the UAE , followed. Other importers included China, Azerbaijan, Libya, and Syria. Destinations to Saudi Arabia, Chile, and the US were not included in the lead slot.
Meanwhile Asia Siyka reported to date production at 108.6 million kilos, surpassing 2020 production which was 88.6 million kilos.
Last week was the 19 auction for the year with 7.9 million kilos on offer, Low growns comprised 3.4 Mkgs, recording good demand,
Ex Estate quantity was 1.2 million kgs, the lager volume last week was reported to be plainer which did not attract top prices. Quality of Teas showed a general decline from the Western hills the Brokers said.
Annual production 2020 comparatively, Sri Lanka is at 4th position producing 278.4 Million kgs, comparing for example \China, 2.4 billion, India,1.2 Billion. Kenya, 473.1 million Other countries producing Tea Indonesia, Bangladesh, Vietnam, Malawi, Uganda, Tanzania, were not leading producers of the beverage.
The Central Bank of Sri Lanka today (07) presented its flagship publication, the Annual Economic Review for 2024 (AER 2024), to President and Minister of Finance, Anura Kumara Disanayake, highlighting the steady progress of Sri Lanka’s economic recovery following the country’s most severe downturn in recent history.
The report was officially handed over by Dr. P. Nandalal Weerasinghe, Governor of the Central Bank, during a special ceremony held at the Presidential Secretariat.
AER 2024 comprises four main chapters: Macroeconomic Developments, Conditions of the Financial System, Review of Central Bank’s Policies and Macroeconomic Outlook.
According to the Review, the Sri Lankan economy showed significant signs of recovery in 2024, following the deep economic crisis experienced two years ago. The recovery trajectory, though challenging, has been notably faster than that of many other debt-distressed countries.
Improvements in economic activity, a partial resurgence in purchasing power and reduced uncertainty are among the key positive indicators noted in the report.
The event was attended by Dr. Nandika Sanath Kumanayake, Secretary to the President, K. M. Mahinda Siriwardena, Secretary to the Treasury, Mrs. K. M. A. N. Daulagala, Senior Deputy Governor, Dr. C. Amarasekara, Assistant Governor, Dr. (Mrs.) S. Jegajeevan, Director of Economic Research and Dr. L. R. C. Pathberiya and Additional Director of Economic Research at the Central Bank Dr. V. D. Wickramarachchi.
[PMD]
Business
IceWarp expands into Sri Lanka, fostering European innovation in collaboration with FentonsIT
IceWarp, a global leader in business communication solutions, has officially launched its cutting-edge platform in Sri Lanka, bringing European expertise in email and collaboration solutions to support the country’s evolving business landscape.
This expansion is driven by a strategic partnership with Fentons Information Technology (FIT), the Information Technology arm of Hayleys Fentons Limited.
The grand launch event held at The Kingsbury Colombo on 4th April, 2025, was graced by several distinguished guests, including Chief Guest Mohan Pandithage, Chairman and Chief Executive of Hayleys PLC.
The presence of Adam Paclt, Global CEO of IceWarp, and Pramod Sharda, CEO for India and the Middle East of IceWarp, along with their global team, highlighted the significance of this expansion. Industry experts, government officials, corporate leaders, and CIOs from the banking, financial services and insurance sectors were in attendance as well, reflecting strong local interest in IceWarp’s European expertise.
With this launch, Sri Lankan businesses now have access to an affordable, scalable and secure alternative to Microsoft 365 and Google Workspace. IceWarp’s advanced Collaboration Suite integrates a wide range of tools into a single, unified platform designed to streamline communication and boost productivity. Offering flexible hybrid deployment options and cost-efficient solution, IceWarp enables organisations to optimise their operations without compromising security or functionality.
Eventistry Sports, a trailblazer in innovative sporting events, has unveiled the Sri Lanka Padel League (SLPL), the nation’s first franchise-based padel tournament, set to debut in June 2025. This groundbreaking league promises to redefine Sri Lanka’s sports landscape by creating a dynamic national platform for athletes while fostering unity among fans, brands, and communities.
The SLPL will showcase six franchise teams, each embodying the spirit of iconic Sri Lankan locales: the Colombo Chargers, Yala Rangers, Hikkaduwa Riders, Ella Hawks, Arugambay Vipers, and Trinco Warriors. These teams will not only ignite regional pride but also unite the country through a shared passion for padel—a fast-paced racquet sport merging tennis and squash, played on enclosed courts.
“The SLPL is more than a league; it’s a movement,” declared Karin Wijeratne, Director of Eventistry Sports. “By blending franchise sports with Sri Lanka’s vibrant culture, we’re creating a platform where players gain national recognition, fans rally behind their hometown heroes, and brands engage with communities in meaningful ways.”
The league’s launch on June 21–23, 2025, at Colombo’s Padel House courts (CR&FC) will kick off with three days of high-octane matches, preceded by a star-studded player auction on May 16th at The Vault, Colombo City Centre. Local talent—both professional and intermediate—will be drafted by franchise owners, with international registrations now open to elevate the competition’s global appeal.
Please log in to: www.slpadelleague.com and social media: @SriLankaPadelLeague (Facebook & Instagram) for more information.
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