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Processed food sector:
Country could become food hub
Indunil HEWAGE
The global food and beverages industry is a fast growing industry
with 16 percent annual growth rate. Sri Lanka is also recording 14
percent annual growth rate in this industry with a global market share
of 0.5 percent.
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Rohantha Athukorala |
Mario de Alwis |
Addressing the launch of Profood/Propack 2011, National Portfolio
Development for Sri Lanka and the Maldives-United Nations Operations
Head Rohantha Athukorala said processed food industry in Sri Lanka needs
to become an US $ one billion earning industry in the years to come and
research and development on agri-based products and services should also
be promoted to achieve this target.
In addition to that, processed food needs to be ethically
manufactured by focusing on having value proportion in the industry.
Processed Food Development Initiative Chairman Mario de Alwis said,
“Sri Lanka could become a hub of transhipment of the processed food
sector in the region if the suitable measures are adopted at the right
time.”
He said the whole picture of the global processed food industry is
changing rapidly owing to escalating consumer demand for products, food
prices, and global crop failures in the face of global warming.
The price of wheat will also go up from next year and this would
adversely affect the processed food industry in the world.
Although Sri Lanka is a small country, it is blessed with ample
rainfall and fertile soil that is helpful to reap high yields from the
crops. Many of the crops in the country are harvest-centric and it is
high time to get large investments related to the industry to fulfil the
objective of the industry.
The country needs to have an apex body with the participation of
relevant private and Government sector institutions while putting the
limited resources in best use.
Considerable incentives have also been given to the manufacturers in
the processed food industry by the 2011 budget.
It is a timely need to provide incentives to have modern technology
in agro-based industries while re-designing these factories,” Alwis
said. |
