Colombo Page News Desk - 15/06/2013
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 says.
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 percent 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 the foreign exchange earnings.
Sri Lanka plans to increase the cinnamon exports to a target of one billion US dollars by 2015, the Sri Lanka Export Development Board (EDB) says.
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