Business
Tea exports between January-May 2021 amount to over Rs. 103bn
Exceeds periodic performance by Rs. 18. 36bn
By Steve A. Morrell
Tea Brokers weekly Tea Market Reports, particularly, John Keels Holdings, (JKH,) market Review, Forbes and Walker ( F & W) Tea market report, and Asia Siyaka(AS) Brokers weekly tea update, reported tea exports from January to May 2021 exceeded Rs. 103. 07 billion. This exports result exceeded 2020 performance by Rs. 18. 36 Billion. From January to May 2020 exports were Rs 84.7 Billion. It is a clear indication that Ceylon Tea registered increased demand over the same period comparing both seasons.
One of the reasons attributed for the increase in Ceylon Tea exports was the lower production to some extent in the Indian Tea industry because of bad weather as well as the coronavirus pandemic that swept through India disrupting many commercial activities. The factual position was that the pandemic situation exacerbated dearth in production pushing supply and demand position to critical levels, Thus results of the pandemic in India generated increased demand for Ceylon Tea.
Cumulative exports recorded production levels at 134.72 million kilos to date, as reported by AS Brokers; comparatively 2020 the quantity recorded was 109. 5 million kilos.
It should also be of interest that 75 percent of the production was output by the tea smallholders. Sources from this sector said such results were also of importance as uncertainty in the fertiliser supply chain served as an impediment to production. Regional Plantation Companies were not exempt from the catastrophe facing the industry, as confirmed by sources who declined to be quoted.
Reports said Turkey was the leading buyer last week at Colombo tea auction. Turkey was followed by Iraq, Russia, and the UAE. Iran moved down to 8th position from 4th. Other notable importers of Ceylon tea were China, Azerbaijan, Libya, and Syria. Meanwhile Chile, and Saudi Arabia imports declined. However, exports to China increased substantially, contributing some 52 percent YoY.
Low growns production during the week was recorded at 3.1 million kilos.
Flowery grades were sold at prices ranging from Rs. 2,200 to Rs, 2,400 per kilo. Prices from the western hills, particularly BOPF grade, appreciated as the sale progressed. High and mid grown CTCs were Rs. 20 to 30 per kilo – less than expected.
According to the Tea Report, production in 2017 was 307.71 million kilos. In 2020, the production was 278.4 million kilos. Reports at hand did not indicate reasons for drop since that year.
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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