The Chairman of the Coconut Development Authority, Shantha Ranatunga, announced that a Cabinet paper will be submitted this week to authorize the import of key coconut-based products to stabilize prices in the local market.
Citing a report from the Coconut Research Institute, Ranatunga revealed that Sri Lanka faces a shortfall of 200 million coconuts from January to April due to lower harvests during the off-season. This supply shortage has driven up coconut prices, creating excess demand in the market.
To address the issue, the proposed Cabinet paper seeks approval to import coconut milk, coconut flour, and frozen coconut kernel—essential raw materials for local industries. Ranatunga emphasized that these imports would help reduce industrial demand and prevent an unnecessary spike in coconut prices for consumers.
