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 Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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