Coconut imports imperative for export revenue surge

• 5opn1
• November 27, 2024
• Business News
• Coconut imports imperative for export revenue surge
• 0 Comments

Local authorities are still awaiting approval to lift the ban on the import of coconut kernels, for which a Cabinet paper was submitted, for the export market as prices and demand have reached a high in the global market.

Despite the cabinet paper being submitted authorities are also looking at prospects to ensure that they can provide the export market with the necessary coconuts from the local produce by promoting the use of packeted coconut milk and coconut milk powder by carrying out a campaign in this regard.

With farm gate prices reaching Rs.100 and retail prices going upto Rs.120 and Rs.150 the industry is hoping to ensure that by importing coconut kernels they can overcome the existing shortage in the local market.

Currently there is a shortage of about 250 million nuts in the local market and of this 150 million nuts are required for the export market