Sri Lanka Tea Board.
Sri Lanka Sri Lanka (srē läng`kə) [Sinhalese,=resplendent land], formerly Ceylon, ancient Taprobane, officially Democratic Socialist Republic of Sri Lanka, island republic (2005 est. pop. is quickly emerging as the largest exporter of tea in the world. Its Colombo Colombo (kəlŭm`bō), largest city (1995 est. pop. 750,000) and former capital of Sri Lanka, a port on the Indian Ocean near the mouth of the Kelani River. tea auctions make up what has been ranked as the biggest auction center in the world. So it is no surprise that the role of the Sri Lanka Tea Board has become increasingly important to the tea industry.
Founded in 1976 as a body to oversee the operations of Tea Research, Tea Promotion, and Tea Regulatory and Development Activities, the Tea Board has changed, both structurally and functionally, during recent years. These changes became necessary when the Sri Lankan government moved from a controlled to a free trade economy, allowing tea to be grown in the private sector.
As part of the government reforms, the ruling body of the Board changed in June 2000 in order to provide a larger representation from the private sector. Members of the Board now include representatives from tea plantations PLANTATIONS. Colonies, (q.v.) dependencies. (q.v.) 1 Bl. Com. 107. In England, this word, as it is used in St. 12, II. c. 18, is never applied to, any of the British dominions in Europe, but only to the colonies in the West Indies and America. 1 Marsh. Ins, B. 1, c. 3, Sec. 2, page 64. , small holders, traders Traders
Individuals who take positions in securities and their derivatives with the objective of making profits. Traders can make markets by trading the flow. When they do this, their objective is to earn the bid/ask spread. , brokers and other trade holders.
The Tea Board now wears a few hats: policy formulator, promoter A person who devises a plan for a business venture; one who takes the preliminary steps necessary for the formation of a corporation.
Promoters are the people, who, for themselves or on behalf of others, organize a corporation. of tea exports, and provider of financial assistance for tea research and small holder development. One of the main thrusts of the activities if the Sri Lanka Tea Board is to assist in the development of the Tea Small Holders Sector. This sector is of crucial importance to the country's economy--more than a million people in the rural areas depend on tea growing and processing for their livelihood. Therefore, maximization of these tea small holders' income is therefore one of the major objectives of the Tea Board.
The Board has been funding those fields and factories processing their green leaf. These efforts have been extremely successful. Today, the Tea Small Holders Sector contributes 60% of the volume of made tea, which serves as 70% of the value of exported tea products. Since tea is Sri Lanka's largest net foreign exchange earner, the tea small holders sector is a major contributor to the country's economy.
The Tea Board also funds tea research. The Tea Research Institute of Sri Lanka was established in 1925 and has earned a significant reputation for its scientific work. Recent projects have been oriented o·ri·ent
1. Orient The countries of Asia, especially of eastern Asia.
a. The luster characteristic of a pearl of high quality.
b. A pearl having exceptional luster.
3. toward the development of technology, which will most likely result in large financial gains for tea producers.
The Tea Board plans to accelerate the shift from exporting tea as a commodity, to marketing it as quality consumer products. The fiscal policies and customs tariffs This is a list of tariffs and trade legislation:
The Sri Lanka Tea Board promotes Ceylon tea as the hallmark hallmark, mark impressed on silverwork or goldwork to signify official approval of the standard of purity of the metal, also called plate mark. The hallmark was introduced by statute in England in 1300 and enforced by the Goldsmiths' Hall, London. of quality. Sri Lanka is one of very few countries in the world that has credible and documented procedures for the enforcement of the minimum International Quality Standard ISO (1) See ISO speed.
(2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 3720 for all its tea exports. Its teas are closely monitored by the Tea Board to ensure that they comply with regulations.