Coconut likely to become an “essential commodity”
- 5opn1
- December 27, 2024
- Business News
- Coconut likely to become an “essential commodity”
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Coconut industry-based authorities are looking at the possibility of imposing the “essential commodity” tag on coconuts in a bid to contain prices at levels as indicated by the government.
The authorities are finding it hard to ensure that prices in the local market can be retained without surging from Rs.110 upto around Rs.200. Currently prices in supermarkets are at Rs.180 per coconut.
As a result of this sudden surge in prices due to a shortage in supply, authorities are trying to beat the competition by bagging stocks from private parties and state plantations and channeling it to consumers at three nuts per person.
Coconut Development Authority (CDA) Chairman Shantha Ranatunga says that they are looking at the possibility of ensuring that coconuts will also come under the “essential commodity” category. In the meantime, Mr. Ranatunga also said they have requested to provide subsidies to the growers for which an allocation of Rs.300 million is to be made as an immediate step.
