Tough going for Sri Lanka tea extracts business
ECONOMYNEXT – Sri Lanka’s Hayleys group has said its tea extracts business has found the going slow owing to regulatory hurdles in key markets.
“Hayleys Global Beverages, the group’s tea extracts business, is taking time to realise its potential,” chairman Mohan Pandithage said.
This was because obtaining regulatory approvals in prospective countries is a lengthy process, he told shareholders in the firm’s annual report.
“Entering into markets where existing suppliers have strong links has also been beset by delays,” Pandithage said.
The company intends to sharpen its focus on the project and expedite its development in the current year, he said.
(COLOMBO, June 07, 2018)