|
|
|
  |
| Sunday, 17 April 2005 |
 |
|
 |
Business |  |
| News Business Features Editorial
|
Coconut prices to tumble by Elmo Leonard Following the New Year the housewife in the suburbs of Colombo could expect coconut prices to drop to Rs. 15 per "curry coconut." This is a forward forecast of the coconut trade, according to broker, IDP Fernando. Coconuts retailed in Colombo's suburbs last week at around Rs 21 to 22 per nut. Pettah's retail market priced their coconuts at around Rs 17 per nut and the Grandpass market followed the trend. The month of May is the best for the harvest of coconuts and the leanest months are around year-end. In the run up to Christmas 2004 a curry nut retailed in Colombo's suburbs between Rs 25 to 28 and in non-coconut growing areas above Rs. 30 per nut. In October last year, traders in Colombo's suburbs retailed Coconuts at Rs. 18 to 20 per nut. April's local price for desiccated coconut is Rs 100 per kilo, at a time when desiccated coconut exports are moving. May's forward local market desiccated coconut price is Rs 98 per kilo, Fernando said. Sri Lanka has the highest per capita consumption of coconuts in the world taking around 60 percent of its crop of 2.7 billion coconuts for 2004. Sri Lanka must have a yield of 4.0 billion nuts to keep its desiccated coconut, coconut oil and consumers happy, according to the Coconut Growers' Association of Sri Lanka (CGA). CGA now has plans to increase the yield from its present 1,400 coconuts per acre to 4,000 nuts in the future, making use of drip irrigation facilities, CGA's vice president, Nimal Samarakkody said. The local demand for coconut increases with the rise in the cost-of-living because when the masses cannot afford to purchase fish, chicken and vegetables, they use pol sambol. |
|
| News | Business | Features
| Editorial | Security
| Produced by Lake House |
