The Investor Sentiment - Equity and investments forum for Sri Lankans



Join the forum, it's quick and easy

The Investor Sentiment - Equity and investments forum for Sri Lankans

The Investor Sentiment - Equity and investments forum for Sri Lankans

Would you like to react to this message? Create an account in a few clicks or log in to continue.
The Investor Sentiment - Equity and investments forum for Sri Lankans

The Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSEThe Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSE

Please send an email to contact.lankaninvestor@gmail.com if you face any technical difficulties when posting

Latest topics

» CCS.N0000 ( Ceylon Cold Stores)
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyWed Mar 20, 2024 11:31 am by Hawk Eye

» Sri Lanka plans to allow tourists from August, no mandatory quarantine
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyWed Sep 13, 2023 12:16 pm by lauryfriese

» When Will It Be Safe To Invest In The Stock Market Again?
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyWed Apr 19, 2023 6:41 am by කිත්සිරි ද සිල්වා

» Dividend Announcements
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyWed Apr 12, 2023 5:41 pm by කිත්සිරි ද සිල්වා

» MAINTENANCE NOTICE / නඩත්තු දැනුම්දීම
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyThu Apr 06, 2023 3:18 pm by කිත්සිරි ද සිල්වා

» ඩොලර් මිලියනයක මුදල් සම්මානයක් සහ “ෆීල්ඩ්ස් පදක්කම” පිළිගැනීම ප්‍රතික්ෂේප කළ ගණිතඥයා
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptySun Apr 02, 2023 7:28 am by කිත්සිරි ද සිල්වා

» SEYB.N0000 (Seylan Bank PLC)
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyThu Mar 30, 2023 9:25 am by yellow knife

» Here's what blind prophet Baba Vanga predicted for 2016 and beyond: It's not good
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyThu Mar 30, 2023 9:25 am by HaeroMaero

» The Korean Way !
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyWed Mar 29, 2023 7:09 am by කිත්සිරි ද සිල්වා

» In the Meantime Within Our Shores!
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyMon Mar 27, 2023 5:51 pm by කිත්සිරි ද සිල්වා

» What is Known as Dementia?
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyFri Mar 24, 2023 10:09 am by කිත්සිරි ද සිල්වා

» SRI LANKA TELECOM PLC (SLTL.N0000)
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyMon Mar 20, 2023 5:18 pm by කිත්සිරි ද සිල්වා

» THE LANKA HOSPITALS CORPORATION PLC (LHCL.N0000)
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyMon Mar 20, 2023 5:10 pm by කිත්සිරි ද සිල්වා

» Equinox ( වසන්ත විෂුවය ) !
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyMon Mar 20, 2023 4:28 pm by කිත්සිරි ද සිල්වා

» COMB.N0000 (Commercial Bank of Ceylon PLC)
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptySun Mar 19, 2023 4:11 pm by කිත්සිරි ද සිල්වා

» REXP.N0000 (Richard Pieris Exports PLC)
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptySun Mar 19, 2023 4:02 pm by කිත්සිරි ද සිල්වා

» RICH.N0000 (Richard Pieris and Company PLC)
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptySun Mar 19, 2023 3:53 pm by කිත්සිරි ද සිල්වා

» Do You Have Computer Vision Syndrome?
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptySat Mar 18, 2023 7:36 am by කිත්සිරි ද සිල්වා

» LAXAPANA BATTERIES PLC (LITE.N0000)
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyThu Mar 16, 2023 11:23 am by කිත්සිරි ද සිල්වා

» What a Bank Run ?
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyWed Mar 15, 2023 5:33 pm by කිත්සිරි ද සිල්වා

» 104 Technical trading experiments by HUNTER
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyWed Mar 15, 2023 4:27 pm by katesmith1304

» GLAS.N0000 (Piramal Glass Ceylon PLC)
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyWed Mar 15, 2023 7:45 am by කිත්සිරි ද සිල්වා

» Cboe Volatility Index
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyTue Mar 14, 2023 5:32 pm by කිත්සිරි ද සිල්වා

» AHPL.N0000
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptySun Mar 12, 2023 4:46 pm by කිත්සිරි ද සිල්වා

» TJL.N0000 (Tee Jey Lanka PLC.)
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptySun Mar 12, 2023 4:43 pm by කිත්සිරි ද සිල්වා

» CTBL.N0000 ( CEYLON TEA BROKERS PLC)
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptySun Mar 12, 2023 4:41 pm by කිත්සිරි ද සිල්වා

» COMMERCIAL DEVELOPMENT COMPANY PLC (COMD. N.0000))
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyFri Mar 10, 2023 4:43 pm by yellow knife

» Bitcoin and Cryptocurrency
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyFri Mar 10, 2023 1:47 pm by කිත්සිරි ද සිල්වා

» CSD.N0000 (Seylan Developments PLC)
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyFri Mar 10, 2023 10:38 am by yellow knife

» PLC.N0000 (People's Leasing and Finance PLC)
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyThu Mar 09, 2023 8:02 am by කිත්සිරි ද සිල්වා

» Bakery Products ?
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyWed Mar 08, 2023 5:30 pm by කිත්සිරි ද සිල්වා

» NTB.N0000 (Nations Trust Bank PLC)
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptySun Mar 05, 2023 7:24 am by කිත්සිරි ද සිල්වා

» Going South
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptySat Mar 04, 2023 10:47 am by කිත්සිරි ද සිල්වා

» When Seagulls Follow the Trawler
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyThu Mar 02, 2023 10:22 am by කිත්සිරි ද සිල්වා

» Re-activating
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptySat Feb 25, 2023 5:12 pm by කිත්සිරි ද සිල්වා

» අපි තමයි හොඳටම කරේ !
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyTue Feb 14, 2023 3:54 pm by ruwan326

» මේ අර් බුධය කිසිසේත්ම මා විසින් නිර්මාණය කල එකක් නොවේ
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyTue Jan 03, 2023 6:43 pm by ruwan326

» SAMP.N0000 (Sampath Bank PLC)
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyWed Nov 30, 2022 8:24 am by කිත්සිරි ද සිල්වා

» APLA.N0000 (ACL Plastics PLC)
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyFri Nov 18, 2022 7:49 am by කිත්සිරි ද සිල්වා

» AVOID FALLING INTO ALLURING WEEKEND FAMILY PACKAGES.
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyWed Nov 16, 2022 9:28 pm by කිත්සිරි ද සිල්වා

» Banks, Finance & Insurance Sector Chart
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyTue Nov 15, 2022 5:26 pm by කිත්සිරි ද සිල්වා

» VPEL.N0000 (Vallibel Power Erathna PLC)
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptySun Nov 13, 2022 12:15 pm by කිත්සිරි ද සිල්වා

» DEADLY COCKTAIL OF ISLAND MENTALITY AND PARANOID PERSONALITY DISORDER MIX.
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyMon Nov 07, 2022 6:36 pm by කිත්සිරි ද සිල්වා

» WATA - Watawala
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptySat Nov 05, 2022 8:44 am by කිත්සිරි ද සිල්වා

» KFP.N0000(Keels Food Products PLC)
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptySat Nov 05, 2022 8:42 am by කිත්සිරි ද සිල්වා

» Capital Trust Broker in difficulty?
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyFri Oct 21, 2022 5:25 pm by කිත්සිරි ද සිල්වා

» IS PIRATING INTELLECTUAL PROPERTY A BOON OR BANE?
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyThu Oct 20, 2022 10:13 am by කිත්සිරි ද සිල්වා

» What Industry Would You Choose to Focus?
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyTue Oct 11, 2022 6:39 pm by කිත්සිරි ද සිල්වා

» Should I Stick Around, or Should I Follow Others' Lead?
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyTue Oct 11, 2022 9:07 am by කිත්සිරි ද සිල්වා

» DV-2024 Program: Online Registration
Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed EmptyThu Oct 06, 2022 11:26 am by කිත්සිරි ද සිල්වා

Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

    Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed

    The Invisible
    The Invisible


    Posts : 3116
    Join date : 2016-11-28
    Age : 44

    Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed Empty Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed

    Post by The Invisible Mon May 04, 2020 11:45 am

    ECONOMYNEXT – Sri Lanka’s oil palm growers which have been facing opposition from activist who are energized by rainforests destruction in Malaysia and Indonesia have said they can produce more domestic edible oil if allowed.

    Sri Lanka has been growing oil palm for over 50 years but opposition has come recently as rubber plantations were turned into oil palm in some destruction

    Unlike export agriculture which has to be globally competitive, Sri Lanka’s import duties on edible oil – which are pushed by a powerful coconut landowner lobby with political connections – has made palm oil also artificially profitable in Sri Lanka.

    Sri Lanka’s Palm Oil Industry Association (POIA) representing cultivators, refiners, processors, manufacturers, marketers and sellers of palm oil and their products said domestic production could help reduce the negative effect on multiple sectors due to a recent hike in imported oils.

    Sri Lanka’s oil palm cultivators can provide tangible support to the government’s efforts to promote local agriculture and import substitution as a response to the impact of the COVID-19 pandemic on the national economy, the sector’s apex industry association has said.

    “Numerous sectors such as confectionery manufacturers have already expressed concern on the increase in their costs of production as a result of the imposition of the special commodity levy on imported palm oil,” POIA President Rohan Fernando said in a statement.

    “Confectionary manufacturers, for example, have said they would start making losses of Rs 100 million per month as a result of the higher cost of imported palm oil.”

    In a country that does not have free trade, all products dependent on even a small amount of inputs become export uncompetitive. As a result natural export diversification stops.

    Only specialist export firms which are export competitive from the beginning – usually with foreign expertise from countries with free trade – set up in industrial zones which are given duty free inputs are able to export.

    Sri Lanka has some 9,000 hectares of oil palm, and permission had earlier been granted to increase it u to 20,000 hectares.

    But restriction on cultivation of the crop had reduced domestic production to 23,000 tonnes of palm oil per year Sri Lanka is forced to 240,000 metric tonnes of oil, the association said.

    Sri Lanka has restricted a number of imports as the central bank printed large volumes of rupees and created a ‘foreign exchange’ shortage.

    Sri Lanka has suffered foreign exchange shortages, exchange controls and trade controls ever since the money printing central bank was set up and entire policy frameworks aimed at ‘saving foreign exchange’ had been devised instead of reforming the central bank.

    As a result closed-economy or self-sufficiency mindset, which is now found only in North Korea (whre-denominates its money and takes zeros off and sometimes shoots officials involved in monetary policy) and economic nationalism and import substitution, persists in Sri Lanka.

    France had guillotined officials involved in printing its ‘assignat’ currency after an initial ‘stimulus’ was followed by an economic collapse.

    After the latest bout of money printing in Sri Lanka ministers have asked the public to grow vegetables and kollu (horsegram) as imports are controlled.

    “While we understand and appreciate the factors that have necessitated the imposition of the levy, we feel this is an opportune moment for the government to support the local palm oil industry, especially since it can contribute significantly to the government’s drive to promote domestic production and self-sufficiency as a long term goal,” Fernando said.

    “Palm oil cultivation is already helping save valuable foreign exchange by reducing imports at a time the country is trying to conserve foreign currency, and has the potential to help Sri Lanka conserve even more foreign exchange in the years ahead.”

    Fernando said Sri Lanka’s oil palm sector could do more import substitution if they were allowed to grow more crop.

    The sector now employs about 13,000 people in cultivation, refining and production, the POIA said.

    Fernando said even if Sri Lanka grows 20,000 hectares of palm oil, the crop would account for only 2.5 percent of the total area under tea, rubber and coconut. (Colombo/May04/2020)

      Current date/time is Sat Jun 22, 2024 8:09 am