Sri Lanka’s Palmyrah Development Board to revive palmyrah industry and Thickkam Distilleries
Sri Lanka’s Minister of Small and Medium Business and Enterprise Development and Industries and Supply Chain Management Wimal Weerawansa has reportedly stated that the country’s Palmyrah Development Board (PDB) is looking at financial injection from the next budget to revive the defunct Thickkam Distilleries.
The Minister has made this observation at the launch of Palmyrah Ice Cream, which is a first for Sri Lanka with the manufacturing being carried out by one of the country’s oldest ice cream manufacturers, Alerics.
According to local media reports, the distillery was established in 1984 to ensure that the excess toddy is converted into vinegar, surgical spirit, arrack, wine and ethanol and other money spinning activities which has high market demand both locally and internationally.
According to Weerawansa, the opening of the distillery will give better retunes for the toddy producers in the country’s Northern Province that the endeavor would also result in the manufacture of several new products for both local and export markets. “We have already established office and are looking for funds from the next budget to install new machinery,” the Minister has said.
The Minister has further noted that Sri Lankan companies invests around Rs. 4.3 million to import fiber monthly and we have offered them locally made Palmyrah fiber which is successful.
“As an initial step a Palmyrah Fiber Processing Centre was set up in Manner last month and we will open three more in North East is four months and by end of 2020 August we will be able to meet this fiber demand locally thus saving huge Forex. We are now working with Sri Jayewardenepura University to introduce several new products from Jak to the local market,” Weerawansa has added.
OSL take:
The latest value additions introduced by the Palmyrah industry has opened up a new business/investment opportunity for interested businesses. Sri Lanka is currently looking at promoting the country’s exports sector and the value added Palmyrah products would undoubtedly help capture a new and lucrative market. Sri Lanka has many trade agreements as well as trade concessions that could be utilised by businesses/investors engaged in the Palmyrah industry.
| Article Code : | VBS/AT/26022020/Z_6 |