Export of coconut related products increases

The Government through the Ministry of Coconut Development and Janatha Estate Development has launched a concessional loan scheme for entrepreneurs launching industries related to coconut.

Ministry Secretary Anura Siriwardena said the scheme named Kapruka Nipayum Diriya was launched to boost the industries related to coconut. He said the loans will be given through the People's Bank and the interest rate is six percent while the Coconut Development Authority will refinance the balance.

Any person who wants to start an industry related to coconuts or develop an existing industry can apply for the loan.

Once the application is submitted we will do a feasibility of the project as well as an evaluation. Once the project is approved the loan will be given within one month.He said that there is a high demand for coconut related industries such as coconut oil, dessiccated coconut,copra,seed nuts,king coconut, poonac, cream, milk, milk powder, mattress fibre, bristle fibre,twisted fibre, coconut shell charcoal, coconut shell activated carbon, coir yarn, coir twine, tawashi brushes, coir brooms and brushes, rubberized coir pads and mattress for bedding, coir mats and rugs, coir fibre pith and dust, husk chips, geo textiles, moulded coir products for the agriculture industry, coconut arrack, vinegar and coconut ekels for the local as well as international market.

Siriwardena said that exports of coconut-related products have increased during January –March 2012, compared to the same period of 2011, which shows that there is scope.

It is said that desiccated coconut produced in Sri Lanka is of the best quality and there is a high demand for it from international chocolate and confectionery manufacturers.

 SG