CEYLON CINNAMON GI STATUS CELEBRATED AT BIOFACH 2022
Admin
2022
Sri Lanka marked an important milestone in 2022, with the country receiving its first-ever Geographical Indication (GI) certification from the European Union (EU) Commission. The certification was a result of a decade-long endeavor led by the Sri Lanka Export Development (EDB) with the support of numerous public and private stakeholders.
In celebration of this historic achievement, the (EDB) hosted a “Cinnamon Event” at the Sri Lanka Pavilion during BIOFACH 2022. The event saw the participation of Hon Consul of Sri Lanka for Bavaria, Ms. Dagmar Wöhrl, the officials from the EU, GIZ, and IPD.
The GI registration helps differentiate Ceylon Cinnamon from lower quality substitutes and offers a source of competitive advantage to increase market differentiation, product turnover and allow for a premium price from the consumer.
Enhancing the competitiveness of Ceylon Cinnamon in the EU market through the GI certification will increase the potential for greater exports , higher income, and employment generation, benefitting thousands of stakeholders within the cinnamon production and process value chain in the island.
Sri Lanka Exports recorded 5-billion-dollar Mark in Five Months
Admin
2022
Earnings from the merchandise exports increased by 9.9 % y-o-y to US$ 980.2 Mn in May 2022 as per the data released by the Sri Lanka Customs. This was mainly due to the increase in earnings from export of Apparel & Textiles, Coconut based products and Electrical & Electronic Components.
Major Exports in May 2022
Major product sectors except Spices & Concentrates, Tea and Rubber-based products; Apparel & Textiles, Coconut based products, Electrical & Electronic components and Food & Beverages, Seafood and Ornamental fish as shown in the table 1 below, recorded increased exports in May 2022.
Exports of Apparel & Textiles increased by 30.1% y-o-y to US$ 482.7 Mn in May 2022. The increase was driven by both Apparel and Textiles.
On monthly analysis, export earnings of kernel products, fiber products and shell products categorized under the Coconut based products increased by 5.37%, 4.93% and 12.97% respectively in May 2022 compared to May 2021.
Export earnings from Seafood increased by 11.8% to US$ 16.8 Mn in May 2022 compared to May 2021. The expansion was contributed mainly by higher exports of Fresh fish (4.9%) and Shrimps (90.74%).
Further, export earnings from Ornamental fish increased by 41.1% to US$ 1.3 Mn in May 2022 compared to May 2021.