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AP National Business

Sri Lanka heeds protests, lifts ban on agrochemical imports

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KMIZ

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Published 8:51 AM

By KRISHAN FRANCIS
Associated Press

COLOMBO, Sri Lanka (AP) — Sri Lanka’s government has lifted a ban on imports of agrochemicals that it said was aimed at encouraging organic cultivation. The agriculture minister announced the revocation of the ban, which took effect in April. But he said government subsidies, price guarantees for produce and technical support will only be provided to those who use organic fertilizer. The ban, which many analysts said was more an effort to preserve Sri Lanka’s scarce foreign reserves, drew months of protests, with farmers saying they were in danger of crop failures and poverty. Sri Lanka’s foreign reserves dwindled to just two months’ worth of imports in August and its rupee currency depreciated 7.4% against the dollar in the first eight months of the year.

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