Sri Lanka Govt. eyes foreign exchange boost with wheat bran exports to China
Sri Lanka aims to boost foreign exchange earnings by exporting wheat bran pellets to China, following Agriculture Ministry recognition of its export potential. The Ministry will sign an MoU with China’s customs authority to facilitate the process. Wheat bran, a byproduct of wheat flour production, is mainly used as animal feed. Sri Lanka imports around 1.2 million metric tons of wheat annually.
The government is eying to boost Sri Lanka’s foreign exchange earnings by exporting wheat bran pellets, a byproduct of wheat flour production, to China, following Agriculture Ministry’s recognition of its export potential.
The Department of Government Information said yesterday that the Ministry is set to sign a Memorandum of Understanding (MoU) with the General Administration of Customs of China to streamline the export process between the two countries.
A proposal by Minister of Agriculture and Plantation Industries Mahinda Amaraweera to sign the agreement received Cabinet approval this week, following the consent from the Ministry of Foreign Affairs for its drafting.
The MoU is expected to facilitate export of nutrient-rich wheat bran, which constitutes 20 percent of the bran removed from imported wheat seeds during wheat flour milling. This byproduct has significant export potential when processed into pellets and sold to international markets.
One popular use of pelletised bran is as a feed material, primarily for ruminants such as dairy cows, beef cattle, and sheep, though it can also be used for non-ruminants.
Sri Lanka does not produce wheat domestically and relies heavily on imported wheat flour. For the 2024/2025 financial year, the country’s wheat imports are forecasted to reach 1.2 million metric tons.
Source Link : https://www.dailymirror.lk/amp/business-news/Govt-eyes-foreign-exchange-boost-with-wheat-bran-exports-to-China/273-291455
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