Packaging growth in South Asia — Sri Lanka

Slight pick up since March 09

May 21, 2009

In Sri Lanka the tea industry’s recession coupled with a credit crunch has made the packaging industry more or less stagnant over the past year. The Sri Lankan exporters of tea, apparel and ceramics felt that the currency was overvalued and was pricing them out of their export markets. In the first four months of 2009, Sri Lankan Rupee’s has devalued almost 10% from SLR 111/US$ to SLR 119/US$.
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