New Agri Business Corporation to be set up

COLOMBO: The new 'Sri Lanka Agri Business Corporation' (Horticultural crops) aimed to provide marketing facilities for producers of agricultural crops and minimise the heavy fluctuation of prices between the producer and consumer will be set up at the Agricultural Development Ministry on April 26 on a concept of Minister Chamal Rajapaksa.

The Agricultural Development Ministry in a press release said the harvest of vegetables, flowers and fruits considered as garden crops and export agricultural crops largely depended on climatic conditions since the condition of these produce deteriorate within a short time of harvesting farmers encounter severe problem in marketing them.

Since there is a 30 to 40 per cent crop loss during harvesting and transport and a lack of proper infrastructure facilities for speedy marketing farmers did not obtain a sufficient market price for the produce to offset production costs.

The new corporation is being set up to cater to the needs of both these parties and ensure their future welfare. The new corporation which will work in co-operation with the private sector will serve as an institutional framework to formulate marketing programs for garden crops.