Sri Lanka’s state fertilizer companies to import 50,000 metric tons of fertilizer
Sri Lanka’s state fertilizer companies – Sri Lanka Fertilizer Company (Lak Pohora) and Colombo Commercial Company – have reportedly received approval from the Cabinet of Ministers to import 50,000 metric tons of fertilizer for the upcoming cultivation season.
Accordingly, Agrifert Liven International (Private) Ltd has been chosen to supply 30,000 MT of granular urea at a price of US$ 315.8 a ton.
Meanwhile, the local media has reported that Singapore Overseas Enterprises (Private) Ltd has been chosen to supply 20,000 MT of muriate of potash at a price of US$ 343.10 a ton.
The local media has further reported that the fertilizer is expected to fill the country’s fertilizer requirement that arises in the month of September.
OSL take:
Sri Lanka’s agriculture sector is being driven towards growth following setbacks suffered due to changing weather patterns. The country’s authorities have taken many steps towards the development of the agriculture sector in many fields including the modernizing and introduction of the latest technologies. Also, the agriculture sector is also engaged in improving the yields of key crops, especially paddy, which remains a main livelihood of the rural Sri Lankan community. The support extended by multilateral donor agencies to uplift Sri Lanka’s agriculture sector along with the Sri Lankan government’s commitment to developing the sector are encouraging signs for foreign businesses/investors to explore business/investment opportunities in the island’s agriculture sector. Foreign businesses could also explore the possibility of engaging in the agricultural exports sector given the many trade agreements as well as trade concessions enjoyed by Sri Lanka with foreign countries.
| Article Code : | VBS/AT/16082019/Z_2 |