Business
Significant hike in January- March 2021 tea revenue; weakening of rupee against dollar seen as factor
By Steve A. Morrell
Forbes and Walker in their weekly Tea Market Report said tea revenue, January to March 2021, showed a significant increase in revenue over the same period last year. The end figure as indicated was Rs. 65.62 billion.
The report said 2020 tea revenue for the same period was Rs. 49.23 billion, the difference in revenue being Rs. 16. 38 billion. The weakening of the rupee against the dollar was given as one reason for the buoyancy of the market. Disruptions in the Kenyan tea auctions constituted another reason.
Production results were equally satisfactory. Total production for 2021, the report said, was 74. 03 million kilos, recording gains of 20.35 million kilos. The 2020 performance for the first three months was 53. 68 million kilos.
Although all elevations recorded increase in production, outstanding results were from the low growns, recording increases of about 48 percent. Low growns predominantly comprise the smallholder sector. Around 400,000 smallholders continued their positive impact; clearly, results from this sector continued to buoy the tea industry. It is also of relevance that this sector is responsible for some 70 to 75 percent production and it is of also relevance that sustenance of the industry could be attributed in large part to the smallholder sector.
In respect of marketing Ceylon Tea at the buyer end, Turkey retained the leading position as the major importer of the brand, followed by Iraq and Russia. China too was in the importer list but was in fourth position, recording increased imports. Exports to China increased substantially and are recorded as 160 percent.
Also in the importer list were the UAE, Azerbaijan, Libya and Syria.
Additionally, Saudi Arabia, Chile and the US recorded imports, but in this instance at reduced quantities, compared to 2020. Reasons were not given for such decreases.
Reporting on elevation performances the report said coloury BOPs from the Western slopes gained Rs. 20 to Rs.30 per kilo. However, the report contained positive remarks on Western BOPF (Broken Orange Pekoe Fannings), which they said gained Rs. 20 to Rs. 50 per kilo.
Auction 15 concluded this week with 6.8 million kilos on offer. Ex Estate offerings comprised 1.0 million kilos.
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
