Rise in coconut prices expected

By Chaminda Silva

The price of coconuts and coconut oil will increase in the coming months due to the drop in production, Chairman of the National Movement for the Protection of Consumer Rights, Ranjith Vithanage says.

Vithanage said that Sri Lankan coconut owners produced between two to three billion coconuts a year. However, the coconut industry needs around 3.6 billion nuts, he said.

“There is a drop in production around this time because of the dry weather. Moreover, we also export significant amounts of coconut products. Since successive governments have failed to increase production, prices fluctuate annually. Given the significant increase in prices we see in the country, I wouldn’t be surprised if the price of a coconut increased by at least 25% in the coming weeks,” he said.

Vithanage added that coconut generates the highest annual income, compared to rubber and tea.

“Coconut cultivations encompass a little over one million hectares. About 135,000 people depend on the industry. The government must ensure that the industry flourishes so that Sri Lankans can buy coconuts at an affordable price,” he said.