Friday Nov 15, 2024
Friday Nov 15, 2024
Monday, 13 December 2021 04:04 - - {{hitsCtrl.values.hits}}
By Charumini de Silva
Sri Lanka Tea Board (SLTB) has stepped up its efforts to attract emerging entrepreneurs to tap into the billion-dollar tea industry to enter the competitive international market with value-added products.
The aim of the initiative is to encourage emerging entrepreneurs to register as exporters to tap into the global markets, where the Government will hand-hold them through the process.
“There is a great demand for the tea types such as orthodox black tea, green tea, CTC tea, organic tea, handmade tea and artisanal tea marketed under the Ceylon Tea brand. The plan is to attract new entrepreneurs keen on registering as exporters to explore the global markets with a premium product and become a great contributor to the economic development,” SLTB Chairman Jayampathy Molligoda told the Daily FT.
He said SLTB has an ambitious plan to encourage around 25% or 75 new entrepreneurs to get registered by the end of the year, adding that there are many who are already engaged in the import business.
At present, there are 300 tea exporters and around 580 factories operating countrywide.
The Chairman said that the SLTB will help these emerging exporters with financial assistance, market access, branding, and promotion activities.
“The program will create a healthier competition to buy Ceylon Tea products at the Colombo auction. We have the largest and the most transparent auction in the world. Our teas are also more expensive than those sold at other auctions due to its unique characteristics,” he explained.
Molligoda believes with the introduction of new entrepreneurs will be able to tap into new markets with value-added, innovative and premium products, whilst exploring disruptive marketing strategies as well.
“It is a challenging job, but not impossible. We have a strategy and product that has been there for centuries with the demand still at high levels. All we need now is entrepreneurs that are willing to take up this opportunity to introduce new value-added products to discerning tea consumers spread across the world,” he pointed out.
As the world has become more concerned about climate change and conservation, he said there are few ways the new exporters could work around in telling their story differently to the global consumers.
“The name of the game is economic sustainability. Our system is sustainable and deep rooted. The benefits of the industry get trickled down from top to bottom. The brand Ceylon Tea has a strong market, but only few exporters take the efforts to add value to their products and this is the opportunity for the new entrants. The emerging entrepreneurs can get into multiple varieties and value-additions to tap different market segments in the international arena,” he added.
Molligoda also said that with the outbreak of the COVID-pandemic the demand for tea has gone up, creating more business opportunities for the industry.
