Sri Lanka coconut auction prices resume climb

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By Editor_1
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COLOMBO – Sri Lanka’s Average coconut prices grew 5% to Rs 56,494 for 1,000 nuts at the last auction in September 2020, after easing for two weeks, official data showed.

The highest price was Rs 61,000 for a 1,000, up from Rs 59,600 last week and the lowest was Rs 51,500 up from Rs 51,000 at the auction conducted by Sri Lanka’s Coconut Development Authority on September 24.

Buyers offered 707,000 nuts at the auction and sold 529,000.

Exports of coconut based products have risen in July, data show.

Sri Lanka had jacked up taxes on edible oil imports while

Sri Lanka’s coconut production in the six months to June was estimated to have dropped 13.6% from a year earlier to 1,367 million nuts.

-economynext.com

Editor_1
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