By Jithendra Antonio
Though Madulsima region achieved a 26% increase in production during the year due to favourable weather conditions that prevailed during 2010, the several strike action that took place had affected company’s revenue, Madulsima Plantations PLC (MADU) Chairman Harry Jayawardena outlines.
The trading loss incurred on account of the strikes is valued at Rs.5.437 million. In the lately published company annual report Jayawardena highlights that on January 4, 2010, workers kept away from work on all estates due to the funeral of P. Chandrasekeran, Minister and leader of Upcountry People’s Front, which resulted in a crop loss of approximately 14,043 kgs of made tea and another dispute on Dehigala Division of Roeberry Estate on May 21. Furthermore, a dispute in Kew Estate which led to a strike on 13th, 14th and 15th August 2010 also resulted in a crop loss of approximately 898 kgs of made tea.
Jaywardena in his review for the financial year 2010 stresses that although weather conditions were somewhat favourable for the Tea industry, when compared with the previous year, overall conditions were seen moving towards the extremes, as witnessed globally.
“A 13% increase in rainfall over the previous year was seen, which was still below the Decennial Average by 6%. In the Bogawantalawa region,n there was a 10% increase in rainfall, when compared with the previous year, which was 23% above the Decennial Average. However Jayawardena forecasts that in a backdrop where the tea market is expected to remain strong with increasing global consumption, a positive outlook for the Company depends largely on substantive inputs at various points in the process of production.
source - www.dailymirror.lk
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