Spice industry needs duty rebates to encourage exporters
Hathoon Sheriffdeen
SPICE: Sri Lanka has exported spices worth of US $ 30.5
million and Lankan spices specially because of their original flavour
are on heavy demand in the global market, said Director Seven Seas
Commodities V. P. Rajan.
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SPICE: A healthy pepper plantation - an important component in
spice sector. |
From time immemorial Sri Lanka was popular for the spice industry
globally and this cultivation should be developed to meet the demand, he
said.
“We had exported $ 30 million of pepper and $ 0.5 million of cinnamon
last year. Our company mainly exports pepper, cinnamon, oil seeds and
mace of the nutmeg fruit.
“We should improve our productivity of cinnamon gradually. Mostly
South and Central American countries consume Sri Lankan cinnamon. Since
the demand for Sri Lankan cinnamon is very high, the produce could be
sold at attractive prices, Rajan said.
“There is a substitute for the cinnamon called “cessiabark”. This is
identical with cinnamon and customarily cropped in countries like China,
Indonesia and Vietnam. “Cessiabark” has a similar flavour like cinnamon
over all, he said.
He also said that this year the cinnamon production has reduced due
to the heavy rain and flood.
Rajan said that the tariff rebate to which the exporters are entitled
had been reduced and the Government should reinstate the earlier rebate
rate to encourage the exporters. |
