Sri Lanka’s export crop earnings increase in 2021 recording US$ 1.4 billion from coconut and spices
Daily FT: Plantation Industries Minister Dr. Ramesh Pathirana said export crops have seen a significant growth in 2021 and the sector would be further encouraged.
“Last year, we had the highest export earnings in the history of the plantation sector. Rubber exports generated billions in dollars. We earned US$ 900 million from coconut exports and US$ 500 million from spice exports.
“When we came to power, the people were not interested in rubber latex cutting. But, at present, a kilo of rubber is Rs. 500, a kilo of pepper which was Rs. 200-300 has now exceeded Rs. 1,000. There is a huge growth in every export crop,” he said at a discussion on the programs to be implemented during this year with State ministers and heads of institutions.
In addition, the Minister said a new coconut export zone will be created in the vicinity of the Hambantota Port this year with an investment of Rs. 15 billion following the high international demand for coconut and allied products.
“As per the data available, Dr. Pathirana believes coconut and allied products will soon become the leading export crop in the country. “Currently, coconut has a very good price and demand.
Therefore, the Government is taking steps to create a new coconut export zone in the vicinity of the Hambantota port. The funds allocated for this project for 2022 is Rs. 15 billion. We hope to use these funds for projects with financial viability. Also, the money should be allocated fairly to each institution involved,” he stressed.
The Minister also said that fertiliser necessary for these crops are being received, adding that free tea plants, tall shade and short shade plants and water supply facilities will be provided free-of-charge this year. “We believe that there will be a great revival in tea cultivation during this year, to make this year a golden year for the tea industry,” Dr. Pathirana said.
For the past two years, the President’s primary responsibility has been to save the lives of the people from the COVID pandemic. “Let’s march forward this year by correctly aligning what we missed last year. We all have a great responsibility to bring the country forward from where it is, making the policy statement a reality,” he added.
Dr. Pathirana also emphasised the need to grow every crop that can be grown in the country.
OSL take:
Sri Lanka’s overall exports sector has shown a steady growth despite pandemic challenges enabling the sector to achieve its targets. The many trade agreements as well as concessions enjoyed by the country have helped boost Sri Lanka’s exports sector, especially the export agriculture crops. The government of Sri Lanka has also offered many incentives to further promote Sri Lanka’s export crop cultivation, thereby increasing the business/investment opportunities in the country’s export crop sector.
| Article Code : | VBS/AT/14012022/Z_2 |