Sri Lanka’s promising progress with regard to free trade agreements, alongside finance reforms and ambitious growth strategies for manufacturing and ICT, look set to encourage increased foreign direct investment in 2019 – with 2018 having seen the highest levels on record. This should help offset the effects of political and economic volatility, as well at the increasing trade deficit that res
Against a backdrop of increasingly severe and financially straining climate events and natural disasters, technology is poised to play an important role in maintaining and improving global agricultural output. The adoption of digital and precision farming practices has been shown to improve crop resiliency, and boost productivity and incomes, particularly in emerging markets where small-scale…
Sri Lanka’s economy has traditionally been agriculture-based, but several centuries of international trade – and the introduction of tea, rubber, and coffee cultivation by the UK – have altered the sector’s makeup significantly. After independence in 1948, the economy remained highly dependent on trade, with tea, rubber and coconut making up the bulk of exports, even while many Sri Lankans…
Sri Lanka’s economy has traditionally been agriculture-based, but several centuries of international trade – and the introduction of tea, rubber and coffee cultivation by the UK – have altered the sector’s makeup significantly. After independence in 1948, the economy remained highly dependent on trade, with tea, rubber and coconut making up the bulk of exports, even while many Sri Lankans…
Recent challenges to the self-sufficiency of the rice industry have highlighted the need for innovative solutions and partnerships. Solving the key issues such as climate change-induced disasters, and inadequate infrastructure and mechanisation will provide the foundation for the country to achieve long-term self-sufficiency in rice by increasing crop yield. Rice cultivation occupies 34% (770,000…
Interview:Mufaddal Jafferjee How can the Sri Lankan tea industry be further integrated into the global tea supply chain while protecting the Ceylon tea brand? MUFADDAL JAFFERJEE: The global tea industry is very fragmented, and the largest brand in the world holds less than 10% market share. Unlike in the electronics industry, for example, the origin of teas used for blends tends to be guided…
On the potential for change in agri-business How can the liberalisation of traditional industries impact Sri Lanka’s economy in the medium to long term? KOEST: Economic liberalisation is a must going forward. Trade openness has created more advantages than disadvantages for Sri Lanka over the past few decades. Many local agricultural exports have reached the far corners of the world and earned…
Following a series of climate-impacted yields, Sri Lanka’s agricultural sector is forecast to rebound in 2018, with stronger rice production and the reintroduction of tariffs expected to reduce the country’s import bill and strengthen national earnings. Rice production for the 2017/18 Maha season, which runs from September to March, is estimated to have reached 2.4m tonnes, according to Department…
Sri Lanka was suffering from the worst drought in 40 years in 2016 and early 2017 when the country was then hit by some of the heaviest floods in decades. Flooding of the Galle and Kalutara Rivers in May 2017 caused landslides, evacuations of hundreds of thousands of farmers and significant crop damage. As these events indicate, Sri Lanka and its agriculture sector are highly vulnerable to…
Interview :Navin Dissanayake In what ways can further investment in research and development (R&D) enhance the value chain of Sri Lanka’s plantations? NAVIN DISSANAYAKE: Tea, rubber, coconut and palm oil face severe challenges, which result in low yields, poor productivity and high production costs. Issues include an outdated regulatory framework, deteriorating soils and rural-urban migration…
