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Sri Lanka’s Plantation Industries Ministry to promote king coconut for exportation

Sri Lanka’s Plantation Industries Ministry to promote king coconut for exportation

The Morning: Pointing out the increasing global demand for king coconut with the recent hikes in foreign exchange earned by exporting them, the Ministry of Plantation Industries has directed the relevant authorities to promote and advance the cultivation of king coconut.
Agriculture and Plantation Industries Minister Mahinda Amaraweera had a discussion with officials of the Sri Lanka Coconut Research Institute (CRI), the Coconut Development Authority, and the Coconut Development Board on 31 October. The current status of coconut cultivation as well as recent developments in the industry were discussed during the meeting.
During the discussion, the officials said that although king coconut is not cultivated in Sri Lanka as a plantation crop, there is a high demand for them in the global market. According to them, Sri Lanka has earned Rs. 110 million by exporting 11 million king coconuts in 2022, and Rs. 140 million by exporting 14 million king coconuts so far this year.
Speaking during the discussion, Amaraweera had said that king coconut cultivation for commercial purposes is yet to become popular in Sri Lanka. He instructed the officials of the said three institutions to conduct a soil test, identify a suitable area for king coconut cultivation, and name the area as a king coconut cultivation export model village.
He had further said that Sri Lanka had not yet identified a variety of king coconut suitable for cultivation in the country and that it is the traditionally cultivated king coconut species that are still being cultivated.
Considering the matter, he had further instructed the CRI to commence research to introduce a new variety of king coconut that has high taste, and bears fruit in a short period.

OSL take:
Sri Lanka is currently in the process of expanding its product portfolio in export crops. The government of Sri Lanka continues to promote the diversification of the export crop portfolio to add more new crops to the list of traditional crops. It is in this backdrop that Sri Lanka is faced with a growing global demand for king coconuts. The many trade agreements as well as trade concessions enjoyed by the country have also helped boost Sri Lanka’s exports sector, including exports crops. With Sri Lanka now looking at developing and expanding the cultivation of king coconuts in the country to meet the export demand, there are new business/investment opportunities in the country’s plantation industry, especially in the cultivation of king coconuts. Foreign businesses/investors could explore the growing opportunities in the country’s king coconut cultivation given the business potential in meeting the demand in the global market.

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Article Code : VBS/AT/20231107/Z_4

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