Cinnamon exporters required to adhere to specifications

Monday, 17 June 2013 00:00 - - {{hitsCtrl.values.hits}}

Senior Minister for International Monetary Co-operation Dr. Sarath Amunugama has proposed to make it mandatory for Sri Lanka’s cinnamon exporters to adhere to the specifications for Sri Lanka standard for exporting of cinnamon.

The proposed measure is aimed at preventing the export of low quality cinnamon and enhancing the production of cinnamon in the country sustaining the livelihood of more than 350,000 families engaged in the industry, the Government said. The Cabinet has approved the Minister’s proposal to submit the Gazette Extraordinary notification on the specifications to Parliament for approval.

Sri Lanka is one of the world’s leading exporters of cinnamon, producing about 85% of international output. The USA and Mexico are the main buyers of Ceylon cinnamon. Cinnamon is currently the dominant spice in Sri Lanka in terms of foreign exchange earnings.

Sri Lanka plans to increase the cinnamon exports to a target of US$ 1 billion by 2015, stated Sri Lanka’s Economic Development Board (EDB).