Reply To:
Name - Reply Comment
Last Updated : 2022-05-27 08:03:00
Responding to a recent newspaper article where it was suggested to introduce a minimum export price (MEP) for Sri Lankan cinnamon to prevent unhealthy competition, the management committee of the Spices & Allied Products Producers’ & Traders’ Association (SAPPTA) dismissed such claims and said the competition between Sri Lankan cinnamon and Cassia is keeping prices low. “An individual has suggested recently in the print media that there is intense, unhealthy and unethical competition resulting in low quality cinnamon being exported. He claims that this has resulted in lower prices for Cinnamon.
“Where in the world is there no competition? There are many exporters with no one exporter having a monopoly and being able to manipulate the cinnamon price. Prices are determined by market forces. Sri Lankan cinnamon is competing with Cassia, and brought down prices. This has had an effect on the cinnamon price,” a statement said. While acknowledging quality must be maintained at all times, it was pointed out that this must be done at farm gate level where the initial processing and quills (sticks) are made.
“Business is not always done on standards fixed by the Sri Lanka Standards Institution. It is also done on an understanding between the buyer and seller based on the buyers’ requirement.
“Therefore, the introduction of a minimum export price (MEP) would not work. When a MEP was introduced for a short time for some spices in the seventies, it failed and caused major disruption to the export of spices and was withdrawn.
“Stakeholders like the Spices & Allied Products Producers’ & Traders’ Association (SAPPTA), The Spice Council and the Cinnamon Association in the cinnamon trade should be consulted before any hasty decision is taken to implement a MEP,”the statement noted.
Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.
Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.
Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.
Reply To:
Name - Reply Comment
Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.
In the backdrop of former Finance Minister Ali Sabry’s proposed plan to inc
Sri Lanka, a tiny South Asian nation of 22 million people, is experiencing fi
A damning revelation by the Food and Agriculture Organisation (FAO) states th
Last week, I wrote that the fate of the Ranil Wickremesinghe government would