Geopolitical shifts could propel Sri Lanka as an agricultural export hub
ECONOMYNEXT – Geo-political wars could create a vacuum in the global food industry which Sri Lanka could benefit from, an industry stakeholder has said.
“There will be a vacuum within the next three years because of geopolitics,” food scientist and Biofood chairman Sarath Ranaweera said at a panel discussion on business opportunities in food, agriculture, and health.
The event was organized by the Royal Thai Embassy, the Ceylon Chamber, in partnership with the Chamber’s Sri Lanka – Greater Mekong Business Council.
The disruption to food production could navigate buyer interest to Asian countries, Ranaweera said.
“You can take great advantage of this vacuum from Asian countries. Asia will be the food basket in the world.”
If agricultural production is done right, Sri Lanka could benefit by exporting products to foreign markets.
However, small and medium enterprises will have to face the financial burden of facilitating the certifications that are needed for exporting goods and the value addition to the produced goods, he said.
To minimize the burden of value addition, the government can run non-contaminated raw material at a commonly established institution, other panelists said.
“Ask them to produce raw material in such a way that it is not contaminated. So it is in a good quality. Then bring it to the place where it is the common area, common factory, where we can do the value-addition part,” Additional Secretary – Agricultural Technology for Ministry of Agriculture, Livestock, Land and Irrigation W A R T Wickramaraachi said.
