Sri Lanka’s confectioners should tap into international markets, President Ranil Wickremesinghe told a gathering of sweet makers.
Pointing to the success of Sri Lanka teas and cinnamon globally, Wickremesinghe asked “How long before I can take chocolates and go?” at the Lanka Confectionary Manufacturers Association AGM on Wednesday (24).
Sri Lanka however heavily taxes both milk and sugar, key ingredients of chocolates and confectionery. Milk is taxed to ‘protect’ domestic products.
Sri Lankan chocolates could become “a world-class product”, as there were limitations for expansion within the country, Wickremesinghe was quoted by his media division.
Since Sri Lanka’s foreign exchange crisis, the country has become hyper focused on export-oriented strategies.
Wickremesinghe pledged 8 billion rupees for research and development to foster a thriving confectionery industry, saying it was the “low hanging fruit” for economic growth.
He asked confectioners to explore new markets to export their products and “to embark on a journey towards global recognition and market presence.”
Government plans included leasing state-owned plantations to Sri Lankan companies or Sri Lankan companies with foreign shareholders for the development of the food industry.
Citing state plantations in Matale, Kandy, Mawathagama, and Dodangaslanda for potential expansion, Wickremesinghe suggested intercropping with cocoa. The government plans to collaborate with smallholders and discussions with the governments of Ghana and Ivory Coast for access to cocoa, he told confectioners.
ECONOMYNEXT – Sri Lanka’s confectioners should tap into international markets, President Ranil Wickremesinghe told a gathering of sweet makers.
Pointing to the success of Sri Lanka teas and cinnamon globally, Wickremesinghe asked “How long before I can take chocolates and go?” at the Lanka Confectionary Manufacturers Association AGM on Wednesday (24).
Sri Lanka however heavily taxes both milk and sugar, key ingredients of chocolates and confectionery. Milk is taxed to ‘protect’ domestic products.
Sri Lankan chocolates could become “a world-class product”, as there were limitations for expansion within the country, Wickremesinghe was quoted by his media division.
Since Sri Lanka’s foreign exchange crisis, the country has become hyper focused on export-oriented strategies.
Wickremesinghe pledged 8 billion rupees for research and development to foster a thriving confectionery industry, saying it was the “low hanging fruit” for economic growth.
He asked confectioners to explore new markets to export their products and “to embark on a journey towards global recognition and market presence.”
Government plans included leasing state-owned plantations to Sri Lankan companies or Sri Lankan companies with foreign shareholders for the development of the food industry.
Citing state plantations in Matale, Kandy, Mawathagama, and Dodangaslanda for potential expansion, Wickremesinghe suggested intercropping with cocoa.
The government plans to collaborate with smallholders and discussions with the governments of Ghana and Ivory Coast for access to cocoa, he told confectioners.
Awards were presented to pioneers in the confectionery industry including Maliban Group founder Hinni Appuhamy; Ceylon Cold Stores founder Arthur Von Possner, of (Elephant House); Motha founder Junius Motha; Munchee founder Deshamanya Mineka Wickremesinghe; Uswatte Group founder P J C Perera; Luckyland founder Sinnasamy Muttiah; Kandos founder Upali Wijewardhena; and Cherish founder Vidanage John Appuhami, at the event.
(economynext.com)
