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| Tuesday, 04 January 2005 |
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Coconut prices to tumble soon by Ramani Kangararaarachchi Coconut prices are likely to come down soon for several reasons according to the Coconut Development Authority (CDA). Although the Tsunami disaster resulted in heavy losses to the fisheries industry coconut trees along the coastal areas have not been affected. Secondly, the demand for coconut oil has decreased largely as people did not make sweets to celebrate the New Year like in previous years due to the disaster said the Director CDA H.D. Jayasinghe. The demand for desiccated coconut has also reduced which is normal during the off season. He said that coconuts will be available in plenty in the market by next week for Rs. 15 to 20. At present the coconut prices vary between Rs. 22 and Rs. 28 each. However, the prices will not go below Rs. 15 per nut as the transport cost is high. Meanwhile, the next coconut auction is scheduled to be held in Dickwella by the end of this month. |
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