Sri Lanka officially the Democratic Socialist Republic of Sri Lanka is a country off the southern coast of the Indian subcontinent in South Asia. Known until 1972 as Ceylon, Sri Lanka is an island surrounded by the Indian Ocean, the Gulf of Mannar, the Palk Strait, and lies in the vicinity of India and the Maldives. As a result of its location in the path of major sea routes, Sri Lanka is a strategic naval link between West Asia and South East Asia. It was an important stop on the ancient Silk Road. Sri Lanka has also been a center of the Buddhist religion and culture from ancient times, and is one of the few remaining abodes of Buddhism in South Asia along with Ladakh, Bhutan and the Chittagong hill tracts. The Sinhalese community forms the majority of the population; Tamils, who are concentrated in the north and east of the island, form the largest ethnic minority. Other communities include Moors, Burghers, Kaffirs, Malays and the aboriginal Vedda people.
Sri Lanka is a republic and a unitary state which is governed by a semi-presidential system with its official seat of government in Sri Jayawardenapura-Kotte, the capital. The country is famous for the production and export of tea, coffee, coconuts, rubber and cinnamon, the last of which is native to the country. The natural beauty of Sri Lanka has led to the title The Pearl of the Indian Ocean. The island is laden with lush tropical forests, white beaches and diverse landscapes with rich biodiversity. The country lays claim to a long and colorful history of over three thousand years, having one of the longest documented histories in the world. Sri Lanka’s rich culture can be attributed to the many different communities on the island.
Sri Lanka is a founding member state of SAARC and a member United Nations, Commonwealth of Nations, G77 and Non-Aligned Movement. As of 2010, Sri Lanka was one of the fastest growing economies of the world. Its stock exchange was Asia’s best performing stock market during 2009 and 2010.
Pepper in Sri lanka
In 2022, pepper production of Sri Lanka was reported with a 4% decrease as compared to 2021 at 24,029 Mt.
2022 saw the decrease of pepper export by Sri Lanka as it recorded a 7% drop to 11,416 Mt as compared to 2021. However, when compared to the average export by Sri Lanka for the past ten years, export in 2022 was only lower by 2%. Furthermore, Sri Lanka was also reported to have exported a quite significant amount of value added product in 2022, 92 Mt of pepper oil and a drop to 258 Mt of pepper oleoresin.
As the main destination for Sri Lankan pepper, India was reported to have imported a total of 10,129 Mt contributing to 86% share of the total pepper export by Sri Lanka. Other main destinations for Sri Lankan pepper were reported to be Germany, Spain and United Arab Emirates.
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|Exchange Rate (LKR/USD)