What Challenges is the Spices, Essential Oils & Oleoresins Spices industry in Sri Lanka is Facing?

The Spices, Essential Oils & Oleoresins Spices industry in Sri Lanka has faced various challenges in recent years. Despite the vast potential of the industry, the following are some of the challenges faced by the industry:

1. Climate change: Climate change has had a significant impact on the growth of spices, essential oils and oleoresins in Sri Lanka. The changes in temperature and rainfall patterns have affected the quality of crops and reduced their yield.
2. Lack of investment: The industry has faced a shortage of investment in recent years, leading to outdated technologies and limited capacity for growth.
3. Limited access to finance: Small-scale farmers often struggles to access finance to invest in the production of spices, essential oils and oleoresins, hindering the growth of the industry.
4. Competition from other countries: The market for spices, essential oils and oleoresins is highly competitive, with countries like India, China, and Indonesia vying for a share of the market. This puts pressure on Sri Lanka’s industry to maintain its competitiveness.
5. Lack of brand recognition: Despite being known for producing high-quality spices, essential oils and oleoresins, Sri Lanka is yet to establish a strong brand recognition in the international market.

Despite these challenges, the Sri Lanka’s Spices, Essential Oils & Oleoresins Spices industry holds a lot of potential for growth and expansion. The government is taking steps to promote the industry by investing in research and development, providing financial support to farmers, and promoting the country’s products in the international market.

Take Note:

• Climate change affecting the quality and yield of crops.
• Lack of investment
• Limited access to finance
• Competition from other countries
• Lack of brand recognition
• Government taking steps to promote the industry (investment in R&D, financial support to farmers, promotion in international market)