Sri Lanka Exporters to Maintain King Coconut Prices at Rs2,000

In a move to bolster Sri Lanka’s position as a leading exporter of king coconuts, exporters have agreed to uphold prices at Rs2,000 per fruit.  This was announced by the Minister of Agriculture and Plantation Industry, Mahinda Amaraweera, and reported in the Daily Mirror, Colombo on February 26.  

The decision came following plans to expand king coconut cultivation with the inauguration of the second king coconut cultivation village near Murutawela Raluwa village. The initiative aims to meet the growing demand for Sri Lankan king coconuts, particularly in the United Arab Emirates (UAE) and other international markets. Approximately 252,000 king coconuts are exported to the UAE weekly generating revenue of Rs 2 billion in 2022 with expectations to increase further in 2023. 

According to figures from the Coconut Development Authority, the country exported 12,226,444 king coconuts during the January-November 2023 period, up from 10,194,582 in a similar period a year ago. The total turned in Rs3.141 billion, rising from Rs2.053 billion previously.