ECONOMYNEXT – Sri Lanka’s Agalawatte Plantations said it had re-planted 2,600 hectares with high yielding clone since it was taken over by Sri Lanka’s Damro group, and is planning to plant another 1,000 hectares this year.
In order to support the rubber replanting programme, the Plantations has set up a network of rubber nurseries and has established 400,000 seedlings in six regional nurseries to supply healthy plants.
Damro group is a consumer durables retailer and also a producer and exporter of furniture.
The plantation produces around two million kilos of latex, two million kilos of tea and more than 11 million liters’ oil palm.
In the first quarter ended in March, the plantation made profits of 417 million rupees, 44.60 percent up from 288 million a year ago.
From tea production the plantation has recorded an income of 769 million rupees in tea, 216 million rupees in rubber and 305 million rupees in oil palm sectors.
Between 2017-2022, an extent of over 263 acres of tea has also been replanted and the preliminary work on another 150 acres has been commenced in 2023, the plantation said.
Five tea nurseries with 900,000 plants will supply the requirement of high yielding vigorous tea plants for the replanting programme. (Colombo/ June 18/2023)