December 10, Colombo (LNW): The Consumer Affairs Authority (CAA) has stationed officers at large-scale rice mills to oversee the daily distribution of rice to the market. These officers will ensure that rice is being sold at stipulated prices and in adequate quantities as declared by the mill owners.
The monitoring began yesterday (9) in Polonnaruwa and Hambantota districts and will continue for ten days. The initiative follows a recent agreement between rice mill owners and President Anura Kumara Dissanayake to sell rice at government-mandated maximum retail prices.
The President has instructed the CAA to take strict action against violators who sell rice above the prescribed price.
Rice stocks were distributed to shops in Dambulla yesterday under the controlled price scheme, with shopkeepers reporting sufficient supplies. CAA officials are conducting inspections at rice mills in the Hambantota and Polonnaruwa districts to ensure compliance.
December 10, Colombo (LNW): Agricultural Services Commissioner General Rohana Rajapaksa reported that recent adverse weather conditions have destroyed 113,956 hectares of paddy fields, severely impacting 120,132 farmers.
As of yesterday afternoon, 48,841.8 hectares of paddy lands have been completely destroyed, with 48,852 farmers directly affected. The Batticaloa district suffered the highest damage, with 13,235 hectares of paddy fields destroyed.
The Commissioner General stated that detailed reports will be submitted to the Agricultural and Agrarian Insurance Board to initiate compensation for the affected farmers.
December 10, Colombo (LNW): The Low-Pressure area still persists over southeast Bay of Bengal and is likely to continue to move west-northwestwards and reach over southwest Bay of Bengal off Sri Lanka – Tamil Nadu coasts around 11th December.
Showers will occur at times in Northern, North-central and Eastern provinces.
Showers or thundershowers may occur at several places elsewhere during the evening or night.
Fairly heavy showers about 75mm are likely at some places in Western and Sabaragamuwa provinces and in Galle and Matara districts.
Misty conditions can be expected in Central, Sabaragamuwa, Southern, Uva, Western and North-western provinces during the morning.
The general public is kindly requested to take adequate precautions minimize damages caused by temporary localized strong winds and lightning during thundershowers.
December 09, Colombo (LNW): Sri Lanka’s National Tea Sales average for November 2024 dropped to Rs. 1,137.22 ($3.92) from Rs. 1,172.15 ($4.02) in October. However, this marks an improvement compared to November 2023, when the average stood at Rs. 1,116.65 ($3.42), reflecting a year-on-year (YoY) increase of Rs. 20.57 and $0.50.
Despite this progress, the November 2024 dollar average of $3.92 shows a $0.10 decline month-on-month (MoM) from October’s $4.02, according to Forbes and Walker Tea Brokers.
Examining elevation-specific trends, High Grown teas saw a MoM decrease of Rs. 34.82 and $0.10 but recorded YoY gains of Rs. 88.01 and $0.68. Medium Grown teas declined Rs. 27.61 and $0.08 MoM, while YoY figures rose by Rs. 6.32 and $0.40. Low Grown teas, however, performed better, gaining Rs. 41.60 and $0.12 MoM, along with Rs. 0.79 and $0.46 YoY.
Cumulatively, the January-November 2024 period reflected positive variances in both rupee and dollar terms, with gains of Rs. 58.06 and $0.50 compared to the same period in 2023. Notably, all tea-producing regions experienced upward trends in value during this period.
Meanwhile, Ceylon tea took center stage at the HORECA Expo-2024 in Belgium, held from November 17–20. Organized by the Sri Lankan Embassy in Brussels and the Sri Lanka Tea Board in collaboration with the private sector, the event served as a significant promotional platform for Ceylon tea in the Belgian and broader Benelux markets.
The event showcased Sri Lanka’s status as the largest exporter of tea to Belgium, where it holds a 26% market share, with tea exports worth $18.4 million in 2023.
The Ceylon tea pavilion, a highlight of the expo, drew attention to Sri Lanka’s black, green, white, herbal, and flavored teas. Prominent exporters Imperial Tea Exports (Pvt) Ltd and Lumbini Tea Valley Ceylon played key roles, engaging potential buyers through tea tastings and demonstrations of Sri Lanka’s rich tea heritage.
A major attraction was the tea mocktail-making session held on November 18, organized in partnership with the European Specialty Tea Association (ESTA).
Minister (Commercial) Thavishya Mullegamgoda emphasized Ceylon tea’s global marketing potential, while Belgian tea expert Stijn Van Schoonlandt led participants in crafting modern beverages using black, white, and green Ceylon teas.
This innovative approach underscored the versatility of Ceylon tea in contemporary gastronomy.
Belgium remains a critical European market for Ceylon tea. Continuous participation in events like HORECA Expo aims to expand Sri Lanka’s market share in Belgium and increase exports of value-added and specialty teas to the region.
HORECA Expo, a leading trade fair in the food and beverage industry, attracts over 600 exhibitors and 45,000 attendees annually, providing Sri Lanka with opportunities to enhance its tea exports to Belgium and beyond.
In summary, while November 2024 saw a decline in Sri Lanka’s tea sales average, initiatives like HORECA Expo strengthened Ceylon tea’s position in global markets, highlighting its quality and adaptability in both traditional and modern contexts.
December 09, Colombo (LNW): Sri Lanka’s tourism sector achieved an impressive $2.8 billion in revenue during the first 11 months of 2024, a 56% surge compared to the same period in 2023. This growth highlights the industry’s role as a key driver of the nation’s economic revival.
The Central Bank reported $272.9 million in tourism earnings for November alone, reflecting a 33% year-on-year (YoY) increase and a significant 47% rise from October’s $185.6 million. Tourist arrivals in November reached 184,158, a 22% YoY increase and the highest since July 2024. February recorded the year’s peak monthly earnings of $375.7 million from 218,350 visitors.
Analysts note these figures emphasize the sector’s ability to generate substantial economic returns when effectively supported. Confidence has grown in meeting the Sri Lanka
Tourism Development Authority’s (SLTDA) revised 2024 targets of 2 million visitors and $3 billion in revenue.
With over 1.8 million arrivals and $2.8 billion in earnings by November, the industry remains optimistic about achieving its goals despite the December challenge of attracting over 345,000 visitors.
This recovery is particularly remarkable given the industry’s struggles over recent years, including the 2019 Easter Sunday attacks, the COVID-19 pandemic, and a subsequent economic crisis.
Despite these setbacks, the sector has shown resilience, driven by organic growth and improved visitor safety measures. Notably, this revival has occurred without a comprehensive global tourism campaign over the last 16 years.
Looking ahead, Sri Lanka’s tourism industry has set ambitious goals for 2030, aiming for 5 million visitors and $8.5-10 billion in revenue.
To achieve this, a strategic overhaul of marketing efforts is underway. In January 2025, the sector plans to launch a unified national brand, moving away from fragmented promotional efforts and positioning Sri Lanka as a year-round destination.
Industry leaders are also advocating for the new administration to expedite the long-awaited global promotional campaign. This initiative is seen as crucial for sustaining the current momentum and enhancing international recognition of Sri Lanka as a premier travel destination.
As a 100% private sector-driven industry, tourism remains vital to Sri Lanka’s economic development.
By aligning strategic initiatives with global market trends and addressing structural challenges, stakeholders believe the sector is poised to become a cornerstone of the country’s economic recovery and growth.
Sri Lanka takes the Gold in the category, rising from 8th place in last year’s Wanderlust Travel Awards. This time, more than 3 million votes were cast by 168,000 readers to determine the result.
There’s little question why Wanderlust Magazine‘s readers are dazzled. For one, Sri Lanka’s natural landscapes are wildly beautiful. Wanderlust Magazine highlights its ‘leopard-filled national parks and the jungle-fringed beaches of Tangalle and Trincomalee’, good for a thrilling safari or a relaxing surf. Its tea-carpeted highlands are best enjoyed on a hike – our Time Out Asia contributor Lola Mendez recommends the Pekoe Trail, which goes by the iconic Nine Arch Bridge and the first tea plantation in the country. Historic attractions balance out the natural gems: Sigiriya Rock, an ancient rock fortress and UNESCO World Heritage Site, made it to our list of Asia’s most spectacular places to visit.
Sri Lanka surely has it all, though there are two other Asian islands you might want to consider. Taiwan snagged the Silver Award, we guess for its incredible mix of city attractions and adventure pursuits – you can go from slurping bubble tea at one of its famous night markets to scaling Alishan or scuba diving on Green Island in a matter of days. Palawan, a stunning province in the Philippines known for its white-sand beaches and limestone cliffs, also places at No. 9.
These are the most desirable islands in the world, according to Wanderlust:
Sri Lanka
Taiwan
Puerto Rico
Tasmania
Bermuda
Cuba
Barbados
Madagascar
Palawan
That’s not all! A capital city in Asia also took Gold in Wanderlust Magazine‘s ‘Most Desirable’ City list – find out which it is here.
December 09, Colombo (LNW): The Hambantota International Port Group (HIPG) has announced a $41 million investment in advanced crane technology to enhance operations at the Hambantota International Port (HIP).
This upgrade, slated for completion by January 2025, includes the installation of four Quay Cranes (QCs) and thirteen Rubber-Tyred Gantry Cranes (RTGs), boosting the port’s annual handling capacity to 1 million TEUs.
The four QCs, delivered by the mv. De Qiang 66 on November 30, feature a Twinlift 65m outreach and impressive load ratings: 50 tons for single handling, 65 tons for tandem lifts, and 75 tons with an underhook beam.
These cranes provide a lifting height of 42m above rail and 20m below rail. Simultaneously, the RTGs, which arrived aboard FENG HAI DA, have a span of 23.47m and a lifting capacity of 41 tons.
Built with automation systems and anti-collision technology, the cranes are designed to align with HIP’s green port initiatives, ensuring operational efficiency and safety.
The new equipment will complement HIP’s existing machinery, including two QCs, three RTGs, four Reach Stackers, and three Empty Stackers. Commissioning is expected to take two months.
Wilson Qu, CEO of HIPG, emphasized the strategic importance of this investment, stating, “The new cranes will significantly enhance our container-handling capabilities, establishing HIP as a multipurpose port for Sri Lanka.
This development supports transshipment operations and attracts potential investors to our industrial zone.” Qu added that HIP’s enhanced capacity will integrate seamlessly with the nation’s coastal shipping network, improving cargo movement efficiency and contributing to Sri Lanka’s goal of handling 10 million TEUs by 2026.
HIP’s expansion is set to benefit the southern hinterland, stimulating industrial growth and creating opportunities for local entrepreneurs.
The port’s industrial zone, supported by upcoming feeder services to Colombo, is also gaining attention from global investors.
A recent initiative, spearheaded by the Japan External Trade Organization (JETRO) in collaboration with the Hambantota Chamber of Commerce, underscores this interest.
JETRO’s delegation, comprising Japanese companies with operations in India and Sri Lanka, visited HIP to explore investment opportunities in the southern region. They toured the port’s facilities and engaged with its officials.
During the visit, HIP showcased its potential to facilitate regional business growth, presenting itself as a vital hub for trade and industry development in Sri Lanka’s deep south.
Highlighting the port’s pivotal role, Qu noted, “The rapid development at HIP, including the establishment of container operations, will drive industrial growth in the region.
This is a timely opportunity for Japanese companies to leverage our strategic location and advanced facilities.”
Recognized as a top foreign direct investment contributor by Sri Lanka’s Board of Investment, HIPG has invested $1.4 billion in the port’s development between 2017 and 2022.
The recent visit by JETRO officials, including senior representatives from India and Sri Lanka, reflects Japan’s growing interest in leveraging Sri Lanka’s strategic trade and logistics potential.
Through its infrastructure upgrades and international collaborations, HIP is positioning itself as a gateway for global commerce, reinforcing its commitment to mutual growth and economic development.
December 09, Colombo (LNW): For the first time in over two years, Sri Lanka’s workers’ remittances from expatriates saw a decline in November 2024. Official data revealed a 1.3% drop compared to the same period in 2023, with remittances amounting to $530.1 million. This marks the end of a 27-month streak of year-on-year increases that began in August 2022.
Despite the slight decline in November, cumulative remittances for the first 11 months of 2024 reached $5.96 billion, reflecting a 10.4% growth compared to the $5.4 billion recorded during the same period last year. Monthly remittance inflows had consistently exceeded $550 million since July 2024, signaling sustained contributions to Sri Lanka’s foreign exchange reserves.
Worker remittances remain a vital pillar of Sri Lanka’s economy, which is still recovering from the severe economic crisis of 2022. In 2023, the country recorded a significant 57% increase in remittances through formal banking channels, rising from $3.8 billion in 2022 to $5.97 billion. This growth was largely attributed to the Central Bank’s decision to abandon a parallel exchange rate system, which previously incentivized the use of informal money transfer methods like Undiyal and Hawala.
The Central Bank’s October 2024 report on external sector performance highlights continued positive momentum. Inflows to the current account improved foreign reserves and contributed to the appreciation of the Sri Lankan rupee. Between January and October 2024, total remittances amounted to over $5.4 billion—an 11.7% increase from the $4.8 billion recorded in the same period in 2023.
Key contributors to these figures include migrant workers in Kuwait, Saudi Arabia, and Qatar, with remittances for the first quarter of 2024 totaling $1.54 billion, followed by $1.6 billion in the second quarter. Additionally, departures for foreign employment in the first half of 2024 reached 149,810, with most workers heading to Middle Eastern countries.
To support its overseas workforce, Sri Lanka has implemented the National Policy and Action Plan on Migration for Employment (NPME). The policy includes provisions for legal assistance, educational programs for the children of migrant workers, and family development initiatives. These measures aim to safeguard the rights and well-being of migrant workers while optimizing their contributions to the national economy.
As one of Sri Lanka’s top sources of foreign exchange revenue, remittances are critical to stabilizing the economy and addressing the financial challenges stemming from the 2022 crisis. While the November dip may indicate a temporary fluctuation, long-term trends remain robust, bolstered by policy reforms and the resilience of the expatriate workforce.
December 09, Colombo (LNW): This prestigious recognition honours the “visionary leadership, integrity, honesty, empathy, resilience, innovation, collaboration, good governance, inspiration and excellence” of Prof. E. A. Weerasinghe, which have been instrumental in transforming Sri Lanka’s higher education landscape alongside his dedicated team.
The awards were presented at the Global CEO Leadership Excellence Awards Ceremony 2024, Sri Lanka’s First-Ever Celebration of 50 Top-Tier CEOs and their teams held on 5th December 2024 at ITC Ratnadipa, Colombo.
December 09, Colombo (LNW): Sri Lanka’s tourism industry has witnessed a significant rebound, with earnings for November 2024 reaching US$ 272.9 million, marking a sharp increase from the US$ 205.3 million recorded in the same month last year and the US$ 185.6 million generated in October.
This positive growth can be attributed to a strong influx of visitors during the winter season, further buoyed by an overall rise in international arrivals.
A total of 184,158 tourists visited Sri Lanka in November, a notable rise from the 151,496 who arrived in October.
This brought the total number of arrivals for the first eleven months of 2024 to 1,804,873, positioning the country on track to surpass the two million mark by the end of the year.
This milestone is especially significant given the challenges the sector has faced in recent years, including the aftermath of the Easter attacks, the global pandemic, and a severe economic crisis.
As of November, Sri Lanka’s total tourism earnings for 2024 reached US$ 2,806.5 million, representing a remarkable 56 per cent year-on-year increase.
The tourism sector’s strong recovery is evident, and with a full-year projection of slightly over US$ 3 billion, Sri Lanka is on track to meet or exceed the anticipated earnings of between US$ 3 billion and US$ 3.5 billion for 2024.
This growth marks a return to pre-pandemic levels of tourist arrivals and a sign of the sector’s resilience.
Looking ahead to 2025, Sri Lanka continues to garner attention as a top travel destination in global rankings, setting the stage for even greater growth in both tourist arrivals and revenue.
Early estimates suggest that the island could surpass US$ 5 billion in tourism earnings next year, a target that now seems within reach.
Notably, recent brief travel advisories from some countries, including the United States, in response to a terrorism-related scare on the East Coast, have had minimal impact on Sri Lanka’s appeal as a tourist destination.
The country’s resilience in the face of such challenges has been reflected in the positive performance of local leisure sector businesses, which have seen substantial gains in both revenue and profitability due to higher visitor numbers.
The increase in domestic tourism has also contributed significantly to the sector’s growth. With the country’s political climate stabilising following the two back-to-back elections in September and November, local consumers are spending more on travel and recreational activities.
Furthermore, the recent improvements in the visa issuance system have streamlined the process, reducing delays and costs for international travellers, thus making the country an even more attractive destination.
