Planters Association calls for greater support in oil palms
Sri Lanka’s Planters Association has called for more support for palm oil as profits from the crop are rising at a healthy pace.
Issuing a statement the association says Oil palm profits expanded exponentially over the past year with the four regional plantation companies (RPCS) engaged in the business recording turnover growth of 44.2 percent year-on-year (YoY) up to 3.95 billion rupees.
Profits within the sector rose by 66.6 percent YoY to 2.29 billion rupees at the end of the 2016/17 financial year according to the most recent information released by the Planters Association of Ceylon (PA).
Out of the 20 RPCs operating in Sri Lanka’s plantations sector, four (04) – Watawala Plantations with 3,157 hectares, Namunukula Plantations with 2,041 hectares, Elpitiya Plantations 1,571 h...