Business
Export boom aids businesses, not farmers
Hindustan Times
In the financial year ended March 2021, the country exported farm produce worth nearly $42 billion, a growth of about 18%, on the back of a rise in global commodity prices, official statistics show.
Rising agricultural exports from India, which shipped out a record 20 million tonne of foodgrains in 2020-21, have breathed new life into agribusinesses, but farmers say they have hardly gained because they had to sell cheap. The beneficiaries were large agricultural trading firms.
In the financial year ended March 2021, the country exported farm produce worth nearly $42 billion, a growth of about 18%, on the back of a rise in global commodity prices, official statistics show.
The current boom is nearly of the same level seen in 2013-14, when exports peaked. India’s farm exports grew five times from just $8.7 billion in 2004-05 to $42.6 billion during 2013-14. They then fell sharply to $33 billion in 2016-17 and have been muted since.
The country exported 17.72 million tonnes of rice till March 30. It also sold nearly 3 million tonnes of wheat and a similar amount of maize abroad.
A firming up of global sugar prices, good news for India, the world’s second largest producer of the sweetener, prompted the government on Thursday to cut the subsidy on sugar exports from ₹6,000 a tonne to ₹4,000.
Growing demand around the world for food staples such as rice, wheat and sugar are keeping Indian agriculture businesses and processing plants humming, as the pandemic began to ease in many nations. However, the issue is that farmers have gained the least.
International food commodity prices rose for the 11th consecutive month in April, with sugar and cereals “resuming their upward trend”, the Food and Agriculture Organization (FAO) said on May 6. FAO’s Food Price Index in April rose 30.8% higher than its level in the same month last year. “A key reason for the surge of exports, especially in cereals, is that Indian produce has been very competitive (in terms of pricing) vis-à-vis countries like Australia and Thailand,” said Abhishek Agrawal of Comtrade, a commodities trading advisory firm.
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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