A leading player in the Sri Lankan food and agriculture sector, Cargills is the top buyer of fresh produce and milk in the country, collecting directly from smallholder farmers across Sri Lanka through an outgrower farmer network. Last year alone, Cargills generated Rs 19.8 billion in direct income for the Sri Lankan farming community through its purchases of fruits, vegetables, and fresh milk, driving a substantial amount of money into the rural economy. The company has recently invested in digitalising its agriculture and dairy supply chains, which creates added benefits for local farmers who supply to Cargills. Additionally, Cargills is a major tax contributor, playing a key role as both a tax collector and a taxpayer in the country.
The Management noted that it expects demand to strengthen in 2025, driven by stable price levels, low interest rates, reductions in utility and energy prices, new tax relief for the middle class, and the expected public sector pay rise. Cargills intends to continue its expansion plans, investing in new stores, capacity expansion for its factories, and new restaurants in the coming months, reflecting its positive outlook for the Sri Lankan economy.
The post Cargills records strong 3Q performance; optimistic about 2025 appeared first on Adaderana Biz English | Sri Lanka Business News.
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Author: Biz Editor
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