Govt. Concerned About Rising Cost of Living & Takes Remedial Measures

The soaring prices of coconut and rice had an impact on cost of living. While coconut recorded 33 per cent of the cost of living, the price on rice had a 27 percent impact. The number of coconuts released to the retail market for household consumption had dwindled in recent years because industries using coconut to manufacture value added products such as cooking oil.

Against this background the government decided to permit the relevant companies to import kernel for their industries and thus allowing coconuts to be released to the retail market. At present, there are also restrictions in the quarantine laws to import coconuts.

In an effort to reduce the rising cost of living (CoL) especially the rising price of coconuts, the Cabinet yesterday decided to permit the import of coconut kernel, expecting the price to come down.

In respect of rice , the government has decided to take further measures for the import of rice to maintain stocks.