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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » CIC planning to export to Ethiopia

CIC planning to export to Ethiopia

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1CIC planning to export to Ethiopia Empty CIC planning to export to Ethiopia Tue Nov 20, 2012 3:55 pm

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

Nov 20,2012 (LBT) - CIC Agri Businesses Ltd is currently planning to expand its agricultural products market to Ethiopia in the coming years. CIC Agri Businesses has already signed MoUs with a Dubai based company to promote agricultural products in Middle-East countries as well as to set up joint ventures in abroad.It has plans to expand agressively in the middle east countries in future.

CIC Agri Businesses Private Limited Managing Director Keerthi Kotagama mad these statements with regard to the expansion. CIC Agri Businesses currently exports rice, banana, foliage, tissue culture plants and other products to various countries.Sri Lanka has a huge potential of exporting agricultural products like rice, maize, soya beans, fruits, vegetables and even poultry products.There will be a huge demand for quality food ,cooked products due to the emerging tourism industry and rising per capita income in the country According to Kotagama.

In addition to these expansions, it will invest Rs 160 Mn to set up a winery in Kilinochchi area and thereby create a large number of job opportunities to local farmers across the area.This decision was made as an initiative to take advantages of the booming tourism industry and the markets arising for wine.With the implementation of project acccording to Kotagama,they could provide red and white wines and grapes less than 75 % of the current prices.
http://lbt.lk/news/business/2979-new-market

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