Immediate importation of at least 100 million coconuts is crucial to sustain the coconut-based products industry and prevent market prices from soaring to Rs. 250-300 per coconut, cautioned Jayantha Samarakoon, Chairman of the Sri Lanka Coconut Industry Board.
He explained that industrial buyers are already offering higher prices for coconuts, driving market rates upward. The government has been urged to import 100 million coconuts in the form of coconut milk, frozen coconut kernels, or shredded dried coconut specifically for the industrial sector. Encouragingly, the government has responded positively to this request.
Samarakoon further emphasized that shredded dried coconuts could be utilized to produce coconut oil, adding value to the import initiative.
Data from the Coconut Research Institute reveal that the country’s coconut harvest has declined by more than 700 million nuts between 2021 and 2024, exacerbating the ongoing shortage and leading to significant price increases in the market.
This urgent call for imports aims to stabilize supply and ensure the sustainability of Sri Lanka’s coconut-based product industries while safeguarding consumer affordability.
