Sri Lanka Ceramics Exports Seen Recovering
The ceramic export was hard hit by global recession and high raw material and energy prices which hit sales and increased production costs. 45 % of the production costs in Sri Lanka are for energy, the country competes with other countries where energy costs are low, like Bangladesh. Dayasiri Warnakulasooriya, president of the Sri Lanka Ceramics Council and owner of Midaya Ceramics, said it was important for companies in the industry to try to bring down costs through innovation which have gone up owing to rising commodity prices. Midaya has reduced firing costs after experimenting with different production methods and is able to manufacture ceramics also by single firing. The industry in Sri Lanka had been unable to invest in modern equipment because most companies faced high borrowing costs (07/2011).