John Keells PLC Tea market report last week predicted that the Glyphosate ban is likely to be lifted.
Quoting the National Economic Council, the report said: “In light of overwhelming scientific consensus that the chemical is not harmful to human health, the decision was put across to the Agriculture Ministry to take necessary steps to formally remove the ban imposed on Glyphosate”.
Industry sources described the move as “welcome news”.
A smallholder source in Maskeliya, who asked not to be identified, complained that his plantation interests can now barely be continued because of the Glyposate ban. Considering the reduced crop intakes, he was in debt to banks because of the loans he was forced to take at high interest rates.
He expressed relief over moves to lift the ban.
The John Keells tea report said prices continued to move up. The Sri Lankan National average for February 2018 was Rs. 631.22 per kilo in comparison to prices in February the previous year, which clearly indicated an increase of 7.3 percent.
Referring to market conditions, the report said there was an encouraging demand from Russia, Turkey and CIS countries. In addition, Iran, Iraq, and Libya lent good support.
Other brokering sources said the Russian problem was now only of historical importance, but its recurrence was not discounted and called for intense caution to ensure that marketing vigilance continued.