SME forum explores value-added coconut industry’s export potential
Daily FT: The Industry and Entrepreneurship Development Ministry last week hosted an SME forum on ‘Value Added Coconut’ at the Sri Lanka Foundation Institute, Colombo, focusing on value-chain development and fostering dialogue on maximising the export potential of coconuts.
The forum witnessed the participation of over 50 individuals, including farmers, plantation companies, coconut processors, coconut value-added product exporters, industry experts, economists, and coconut enthusiasts.
With an engaging agenda, the event featured esteemed speakers including Industry and Entrepreneurship Development Ministry Deputy Minister Chaturanga Abeysinghe, Industry and Entrepreneurship Development Ministry Secretary Thilaka Jayasundara, Coconut Development Authority (CDA) Chairman Shantha Ranathunga, Good Market Co-Founder Achala Samaradiwakara, Kantar Sri Lanka Director Himalee Madurasinghe and Cha’s Organics CEO and Co-Founder Chanaka Kurera.
The Deputy Minister expressed his gratitude to all the attendees for their active participation and commitment towards the growth of the coconut industry. He spoke of the importance of collaborative efforts and knowledge exchange to unlock the full potential of the value chain, enabling sustainable development and economic prosperity.
Highlighting value-chain integration as the foremost priority of the Government, Abeysinghe said: “The Government will be following a series of steps to address the SMEs problem, with particular emphasis on commodities like coconut. The first step is problem identification, where we analyse the root causes. From analysis, we have understood that fierce external competition from overseas is hindering the export competitiveness of our nuts. Hence, we must ask ourselves, what can we, as representatives from the Government and industry do to enhance its export competitiveness?”
He added: “Facilitating collaboration among all intermediaries in the coconut supply chain enhances value chain integration, leading to improved export competitiveness by streamlining processes, reducing costs, and fostering innovation.”
In addition, the Deputy Minister emphasised the need to elevate quality standards while catering to evolving consumer expectations. He urged manufacturers and processors to tap into the country’s diverse natural flavours, which inherently eliminate the need for preservatives or artificial additives commonly used abroad.
“Today’s society places immense emphasis on sustainability and wellness. Therefore, it is essential that we capitalise on these emerging preferences to provide coconut products that are natural, healthy, and environmentally sustainable,” he opined.
OSL take:
The fast-growing demand for coconuts and related products in the foreign markets have increased the business/investment opportunities in Sri Lanka’s coconut industry. In fact, Sri Lanka is currently struggling to meet the increasing demand for coconuts and related products in the local market as well as meeting the export demand. The strong trade ties enjoyed by Sri Lanka with other countries have also helped boost the local coconut industry. The increasing business potential has also resulted in the Sri Lankan government and authorities presenting incentive schemes for businesses in the coconut industry. The overall expansion in the local coconut industry and the increase in business/investment opportunities in-turn have presented lucrative business ventures for foreign businesses/investors, especially given the steadily increasing business potential in Sri Lanka’s coconut industry. Foreign businesses could also look at expanding businesses in Sri Lanka’s coconut industry and related sectors through partnerships or joint ventures with local businesses as well. The value addition and diversification of Sri Lanka’s coconut-based products present a whole new set of business/investment opportunities for foreign businesses/investors.
| Article Code : | VBS/AT/20250320/Z_3 |