Reduction in Coconut Price within 2 Weeks

Minster of Plantation Naveen Dissnayake, while addressing a media conference in Sethsiripaya yesterday said, within next two weeks price of coconuts will be reduced. He further said, a project has been established to distribute coconut at low price on village level.

There was a fall in coconut cultivation. Rise and fall in price is natural in any economy. Due to weather change and natural disaster prices cannot be controlled by the State.

From the year 2015 the country faced drought. Hence, coconut cultivation too failed. Even if the government fixed a control price for coconut at 50 per nut, in between brokers supply coconuts to the market with a marked up price at 70, 80 or 90.

He discussed the matter with the president and the project will be submitted to Cabinet for approval. Once approved, the government will collect and distribute coconut at low prices on village level within next two weeks.