That Sri Lanka is in the grip of an economic crisis is widely known, The island nation has secured one a $1 billion credit line from India which will be used to import essential items, food, and medicines.

The economic crisis has deepened since last year, and one of the major reasons for this downfall is organic farming. The Sri Lankan government had banned the usage of chemical fertilisers in April 2021 in order to make farming environment friendly. There were protests by farmers who asked for a hybrid policy and some transition time, but that did not go through.

This led to yields going down by 20 to 25 percent across crops and leading to a sharp surge in food prices. This in turn led to a widespread protest because it led to a shortage of food and high inflation. Ultimately, the ban was rolled back but still, the fertilisers did not reach farmers on time and yields continued to see a downtick of as much as 30 percent. So yes, green farming is required, but it will require transition time?

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SBI to provide $1 bn credit line to Sri Lanka for procurement of food, other essentials

First Published:Mar 22, 2022 5:41 PM IST