Private sector's contribution to develop agribusiness remarkable

by L.S.A. Wedaarachchi

The private sector's contribution to develop agriculture and agribusiness in Sri Lanka is remarkable. Sixty percent of Sri Lanka's population are directly or indirectly, on a fulltime or part time basis involved in some form of agribusiness related activity.

Agribusiness by far generates Sri Lanka's largest revenue earner. It is the lifeline to the nation's rural farm community who still constitute a majority.

While traditional products such as tea, rubber, coconut and spices are top earners, non-traditional products such as fruits and vegetables. foliage, cut flowers and processed food also play a key role in Sri Lanka's agri economy.

In the field of agriculture the private sector plays a major role as an investor, planter and marketer. Commenting on the "Ag Biz 2006" exhibition at the BMICH, Sarath de Silva, chairman of the National Agribusiness Council (NAC), the apex body of all agribusiness in Sri Lanka said, the Ag Biz 2006 enlightened the government, the public and the public sector organisations on the enormous contribution made by the private sector to uplift the agriculture sector in the country.

He said that Sri Lanka's agricultural sector needs to be updated to face global competition with the changes in technology and other developments taking place around the world.

That responsibility devolves upon the private sector, he said. The private sector rendered a great service as the development partner, facilitator, technology supplier and marketeer to the rural sector during the last few decades, he said.

The private sector is still the largest employer in Agribusiness and it offers a decent marketing opportunity to rural producers while supplying all essential inputs. The formal sector offers attractive credit terms and helps Sri Lanka grow, he said. The 250 stalls Agri Foods supply chain exhibition, the farmer and Agribusiness award and the national agribusiness convention was held at the BMICH during the weekend.

The first annual national agribusiness convention was dedicated to stimulate closer links between the formal private sector and the nation's rural communities, he said.