Nestlé Makes Highest Ever Contribution to Local Farmers in its History

To Press Releases listColombo, Sri Lanka,Dec 26, 2012

Contribution for 2012 to reach a significant LKR 4 billion

alt text here please Photo caption: Pictured is Nestlé Lanka’s Managing Director, Mr. Alois Hofbauer, celebrating the company’s highest ever procurement of fresh milk in history with a Nestlé dairy farming family.

A forerunner in operating its business in line with the concept of ‘Creating Shared Value’ - which states that ‘for a company to be successful and create value for shareholders, it must also create value for the society it operates in’ - Nestlé has accelerated its strong commitment to local sourcing and rural development despite a very challenging year.

Manufacturing over 90% of its products sold in Sri Lanka locally, the ‘Good Food, Good Life’ company is set to end the year with the highest ever contribution to the rural community in its history; paying out LKR 4 billion (approx. USD 31 million) to more than 23,000 local farming families for the procurement of raw materials such as fresh milk and coconut for its leading food and beverage products.

The country’s largest private sector collector of fresh milk, Nestlé procures fresh milk from over 18,000 farmers every day. The company has worked closely with relevant authorities over the years to assist local dairy farmers in increasing the quantity and quality of their yield; thereby helping to reduce the country’s dependency on milk powder imports. As the world’s largest exporter of coconut milk powder, Nestlé also contributes to the livelihood of 5,000 coconut farming families across the country by way of coconut purchases amounting to 50 million coconuts a year.

“It’s nice to end the year having made such a positive impact on the lives of so many. I’m extremely proud of our landmark contribution in uplifting the livelihoods of Sri Lankan farmers this year and pleased we have proved once again that it is possible to do well by doing good” said Alois Hofbauer, Managing Director of Nestlé Lanka PLC.

Nestlé is hailed widely across Sri Lanka as the ’local multinational’ for its significant contributions towards developing the country’s rural sector. The world’s leading food and beverage company has won a number of awards and accolades to its name in honour of strong economic and social contribution to the country.