Business
Bulk tea exports show marginal growth while tea bags, packeted tea show decrease
According to Forbes & Walker comments released on December 22, Sri Lanka tea production for the month of November 2020 totalled 24.8 M/kgs, showing an increase of 0.8 M/kgs vis-à-vis 24.0 M/kgs of November 2019.
Meanwhile, High and Mid Growns have shown a decrease, whilst Low Growns show a fairly significant increase compared to the corresponding month of 2019 and largely reflects a recovery after a drought induced decline in 2019.
January-November 2020 cumulative production totalled 249.9 M/kgs recording a deficit of 28.3 M/kgs vis-à-vis 278.2 M/kgs of January-November 2019. On a cumulative basis, all elevations have shown a decrease, with Low Growns showing the highest deficit.
CTC Cumulative production, January-November 2020 totalled 21.37 M/kgs, recording a 0.23 M/kgs deficit vis-à-vis 21.60 M/kgs of January-November 2019. On a cumulative basis, High Growns have recorded a fairly significant gain YOY, whilst Mediums show a marginal decrease. Low Growns, however, have recorded a fairly substantial decrease.
Tea Exports for the month of November 2020 totalled 20.2 M/kgs, showing a decrease of 1.7 M/kgs vis-à-vis 21.9 M/kgs of November 2019. When analysing the main categories of exports Bulk Tea shows a marginal growth, whilst Tea Bags and Packeted Tea have shown a decrease compared to the corresponding period of 2019. Total revenue of Rs. 17.77 B of November 2020 shows a marginal decrease compared to Rs. 18.29 B of November 2019. This has resulted in the FOB value of Rs. 879.01 (USD 4.78) of November 2020 showing a gain of Rs. 46.31 vis-à-vis
Rs. 832.70 (USD 4.65) of November 2019.
January-November 2020 cumulative exports totalled 241.6 M/kgs showing a deficit of 27.3 M/kgs vis-à-vis 268.9 M/kgs of January-November 2019. Here again, all main categories of exports show a decrease compared to the corresponding period of 2019, with Packeted tea showing a fairly substantial decrease. Meanwhile, revenue too of Rs. 209.02 B has recorded a decrease of Rs. 12.43 B vis-à-vis Rs. 221.45 B of January-November 2019. Total FOB value, however, of Rs. 865.03 (USD 4.71) shows a gain of Rs. 41.52 when compared to Rs. 823.51 (USD 4.63) of January-November 2019.
Turkey has retained the No. 1 position followed by Iraq and Russia with Iran occupying the 4th position. Although Iran occupies the 4th position, a fairly substantial decrease in imports is recorded during January-November 2020 compared to the corresponding period of 2019. Other noteworthy importers are China, Azerbaijan and Chile. Meanwhile, destinations such as Libya, Japan, UAE and Syria have recorded a fairly significant decrease in imports during the period under review. Forbes & Walker said.
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.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
