News & market updates

Agrithmics has deployed a fully integrated digital estate management system at Goomera Estate, the first government-owned tea estate in Sri Lanka to be digitalized, and the State Plantation Corporation plans to roll the system out across all its estates by year-end. The platform automates wages, attendance and plucking data and provides GPS-enabled dashboards and offline-capable mobile apps.

Sri Lanka and Thailand plan to deepen trade and investment using the Sri Lanka–Thailand FTA and enhanced B2B engagement, targeting tourism, hospitality, food processing, agriculture, logistics and other sectors to boost bilateral ties and supply‑chain links.

Deloitte Sri Lanka held a client session 'From Compliance to Capital' on using climate disclosure (SLFRS S1/S2) to boost resilience and access to capital, covering decarbonisation, Scope 1–3 emissions, assurance-ready data and sustainable finance.

The EDB convened a special meeting with industry stakeholders to address a coconut coir/fibre raw-material shortage that is disrupting production, raising costs and delaying exports. Coconut coir and fibre exports reached ~USD 294m in 2025 (up 22.5% y/y); the EDB discussed short-term relief and longer-term supply-chain interventions.

Deputy Minister Chathuranga Abeysinghe said Sri Lanka can reach $36bn in exports under the National Export Development Plan if urgent reforms, strategic FDI and lower energy costs are delivered. The government will prioritise digitalisation, trade facilitation, supply‑chain improvements and value addition, with focus on plantations while warning of acute skills shortages.

Sri Lanka urged Belgian and Luxembourg investors to seize opportunities in infrastructure and green energy, pointing to planned PPP and investment protection reforms and competitively priced land. Officials highlighted Port City expansion, shipbuilding, marinas and agricultural processing as priority sectors for partnerships.

EU-funded Green Recovery Facility and the Rubber Development Department are running a capacity-building programme to prepare Sri Lanka’s rubber sector for the EU Deforestation Regulation (EUDR), including a workshop and training expected to directly train about 280 stakeholders. The initiative aims to strengthen traceability and due diligence to protect access to EU markets.

Renuka Agri Foods PLC was among Sri Lankan companies showcasing products at THAIFEX – Anuga Asia 2026 (26–30 May) in Bangkok as part of an EDB-organized pavilion to promote food and beverage exports.

Deloitte Sri Lanka held a client session 'From Compliance to Capital' emphasising climate disclosure (SLFRS S1/S2), decarbonisation pathways and sustainable finance as tools to strengthen business resilience and improve access to capital across telecoms, financial services, manufacturing and agriculture.

National Chamber of Exporters says the Central Bank's new Gazette requiring exporters to convert foreign-currency proceeds by the 10th day of the following month was introduced without industry consultation and may disrupt cash flows, raise costs and hurt competitiveness; members seek flexibility to retain funds for verified FX needs.

The Presidential Task Force chaired by Tourism Minister Vijitha Herath reviewed major tourism initiatives, including the proposed Southern Mist Corridor across Galle, Matara and Ratnapura and a 10-year Maritime Tourism Corridor with phased ferry services starting from Jaffna. The meeting also covered film-tourism facilitation, skydiving development at Koggala, whale-watching rules and visa/security measures.

Sri Lanka launched the National Export Development Plan (NEDP) 2026–2030 targeting USD 36 billion in export revenue by 2030. The Cabinet-approved plan, prepared by the Ministry and the Export Development Board with ADB support, targets eight priority sectors and upgrades in logistics, customs digitization and SME export readiness.

The government presented the National Export Development Plan 2026–2030 to the President, targeting USD 36 billion in export revenue by 2030. The plan names eight priority export sectors (including digital products, electronics, automotive components, processed foods, rubber, minerals and maritime) and sets horizontal enablers such as logistics, trade finance, trade facilitation and ESG capacity building, with ADB technical support.

Sri Lanka launched the National Export Development Plan (NEDP) 2026–2030 targeting USD 36 billion in export revenue by 2030. The plan sets six cross-sector enablers and eight priority sectors — including auto components, minerals, rubber, marine, spices, digital products, electrical/electronics and processed food — to drive export diversification.

Fitch Ratings warns the developing El Niño, likely to persist into early 2027, raises the risk of economic disruption for vulnerable sovereigns by intensifying fiscal, growth, inflation and external liquidity pressures. It could also harm crop yields and lift global food prices, worsening inflation risks.

The rupee opened stronger, with the USD/LKR spot at Rs.333.00/334.50 (versus Friday’s 335.50/336.00) after the Central Bank cut the period for exporters to convert proceeds to 30 days from 90, earlier pushing the rate to Rs.332.25/333.00.

Pussalla Agri Ventures was awarded EU Organic and USDA Organic certifications for its premium Ceylon cinnamon (awarded on the 11th). The company says the certifications, alongside SL GAP and GMP accreditations, will help expand access to premium EU and US export markets.

Sri Lanka GDP grew 5.1% year-on-year in Q1 2026, up from 4.7% in the previous quarter. Growth was led by industry (up 7.2%) with mining +19.5% and construction +16.3%, while services rose 3.4% driven by insurance (+22%), IT/BPM (+16.1%) and financial services (+12.8%); agriculture +1.1%.

Sri Lanka's real GDP grew 5.1% year-on-year in Q1 2026 to Rs. 3,652,503 million (2015 prices). Growth was led by industry (+7.2%)—notably construction (+16.3%) and mining (+19.5%)—while services rose 3.4% (insurance, IT, financial services) and agriculture grew 1.1%.

World Bank cut its global growth forecast to 2.5% for 2026, warned higher energy and fertiliser prices will raise inflation, and is making $50–60bn available immediately (scalable to $80–100bn over 15 months) to support vulnerable countries.

Sri Lanka aims to raise annual cinnamon export earnings to $300m from about $260m, according to a Cinnamon Development Department roadmap. Officials say yields could increase from ~250kg to 400kg per acre with better practices and flagged competition from cassia, low-value markets, weak R&D and branding.

Sri Lanka's central bank says it is investigating Kasagala Green Plantation (Private) Limited under the Finance Business Act to determine whether it has carried on finance business or accepted deposits, and formally denied the company's claim that it is regulated by the CBSL.

Sri Lanka will launch the National Export Development Plan (NEDP) 2026–2030 targeting $36 billion in export revenue by 2030, developed by the Export Development Board with ADB technical assistance. The plan sets horizontal enablers (trade facilitation, trade finance, supply chain, ESG) and eight priority verticals including electronics, digital services, processed foods, auto components, rubber, minerals, marine and spices.

World Bank says Middle East conflict will slow global growth to 2.5% in 2026 (the lowest since COVID-19) and is ready to provide up to $100 billion to affected countries over 15 months. It warns higher energy prices (Brent ~ $94/bbl in 2026), rising inflation and borrowing costs, and downside risks that could cut growth to 1.3% if disruptions worsen.

The UN has formally concluded its emergency response to Cyclone Ditwah after delivering critical assistance to 575,000 people and mobilising $28.5m in donor funds, while recovery and reconstruction needs are estimated at $3.4bn. Around 113,000 homes were damaged or destroyed and more than 2.2m people were affected.

Sri Lanka will launch the National Export Development Plan 2026–2030 on 16 June, aiming to lift export revenues to $36 billion by 2030. The EDB, with ADB support, outlines two pillars and eight priority sectors including Auto Components, Minerals, Rubber, Marine, Spices, Digital Products, Electrical & Electronic Components, and Processed Food.

The rupee weakened to Rs. 335/337.50 in the interbank spot market after giving up part of Wednesday's gains (Wednesday close: Rs. 332.25/330). The midweek rebound followed the Central Bank tightening rules for exporters, cutting the conversion window to 30 days from 90.

SAARC CCI President Chandi Raj Dhakal met Yunnan Governor Wang Yubo in Kunming to push for expanded trade, investment and connectivity between South Asia and Yunnan, highlighting opportunities in infrastructure, tourism, logistics, digital industries, renewable energy, agriculture and manufacturing.