Sri Lankan government allocate billions of rupees for procurement of local organic fertilizer
The government of Sri Lanka, in a bid to promote the local production of organic fertilizer, has decided to allocate Rs. 3.8 billion to purchase organic fertilizer produced locally for the 2021/2022 Maha season.
Accordingly, the Cabinet of Ministers has approved the procurement of organic fertilizer required for Ceylon Fertilizer Ltd. and Colombo Commercial Fertilizer Ltd. From selecting local organic fertilizer manufacturers recommended by the Cabinet Appointed Negotiation Committee.
The proposal was submitted to the Cabinet of Ministers by Sri Lanka’s Agriculture Minister Mahindananda Aluthgamage.
Sri Lanka’s Cabinet Co-Spokesman, Minister Dr. Ramesh Pathirana has told the post-Cabinet news briefing that the government would be importing certain nutrients that were organically derived such as nitrogen, phosphorus, and potassium.
The government of Sri Lanka imposed a complete ban on the use of chemical fertilizers from the next cultivation season.
OSL take:
Sri Lanka’s policy decision to transform the country into an organic agriculture industry has opened up a host of new business/investment opportunities in Sri Lanka’s agriculture industry. The island is in the process of capacity building in order to locally manufacture its organic fertilizer requirements as well as look at crop seeds that have high yields. Given the new openings in Sri Lanka’s agriculture industry, foreign businesses/investors could explore the expanding opportunities in the respective industry.
| Article Code : | VBS/AT/31082021/Z_4 |