Sri Lanka tea marketing fund stays with ministry, campaign starts April
ECONOMYNEXT – A fund to promote Ceylon tea in overseas markets which the Treasury tried to take over will remain with Sri Lanka’s Ministry of Plantation Industries with the global campaign starting in April, the minister Navin Dissanayake said.
Tea prices, which had sunk to low levels when he took over the ministry a year ago, had now recovered, fetching around Rs500 a kilo from Rs350 levels, he told a news conference.
The tea promotion fund, raised from a tax on exports, had now reached about $45 million, he said.
“The finance ministry tried to take it over but we ensued that it remains with us,” Dissanayake said.
The long-delayed overseas marketing campaign will start by April this year, he added.
The fund was to be used exclusively for the worldwide promotion of Ceylon tea under the stewardship of the Promotion and Marketing Committee of the Sri Lanka Tea Board.
The Tea Promotion and Marketing Levy of Rs3.50 was introduced by the Sri Lanka Tea Board in October 2010 and charged on every kilogram of tea exported from Sri Lanka.
(COLOMBO, Jan 20, 2016)