Business
Production loss in Sri Lanka buoys demand for Indian tea
By Steve A. Morrell.
Over the past few weeks, tea circles were abuzz on a rising trend of Indian teas being preferred to Ceylon Tea. Our enquiries supported by tea broker reports revealed that there is currently a drop in the production of Ceylon Tea. Because of this loss in production of our teas, buyers were moving to other suppliers.
Particularly the demand for orthodox tea is dropping. As a result, buyers are switching to Indian producers.
Asia Siyaka (AS) tea brokers said last week in a report authored by its president Anil Cooke that orthodox tea prices in India had started firming up and were expected to maintain an upward trend. However, CTC and Crush Tear Curl largely witnessed a softening trend.
Comparative production trends as indicated in the AS report were that todate production in 2022 recorded 126.7 million kilos (Ks), same date 2021 production was 155.2 million Ks, indicating a drop in production of a minus variant of approximately 28 . 2 million Ks. The comparative minus trend was exacerbated by the weekly performance at auction offerings of about 1 million kilos in a deficit equation.
However, although buyers were reported to move to Indian teas, Ceylon Tea was not ignored in the weekly auctions. Price averages continued to rise.
Egyptian Packers maintained strong interest with good enquiry from Pakistan and Yemen. Other Middle East countries, Kazakhstan, CIS states and UK, lent more support. Afghanistan showed reduced enquiry. The report said that Russia was absent with Iran too not active at the auction last week.
Prices for all elevations showed marked increases with low growns recording highest prices, selling at averages of about Rs. 1645 per kilo.
Market trends for Sri Lanka Tea, for example, to the US were that such teas occupied 5th position, behind Argentina, India, Malawi, China. Sri Lanka exports to the US was 7.6 per cent or 865 MTs (metric tons). Argentina, exported 4662 Mts. to the US.
Annual production since 2017 shows marked reduction. 2017 production was 307.71 million Ks, 2021 production was 299.48 million Ks.
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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