COLOMBO, Sri Lanka – Coconut prices in Sri Lanka have seen a significant increase of 17.7%, as the island nation gears up for its major festive season, according to data from the Coconut Development Authority (CDA).
Price Surge and Increased Supply
The volume of coconuts offered at auctions has also surged ahead of the festivities. Last week, a total of 362,016 coconuts were offered, a significant jump from 199,500 the previous week. The number of coconuts sold also saw a 7.5% increase, rising to 345,342 from 164,976 in the prior week.
The average auction price for coconuts has climbed to 174,601.50 rupees per 1,000 nuts, up from 146,158.00 rupees just a week ago. This price spike reflects the growing demand for coconuts during the April festive season, with supermarket prices exceeding 200 rupees per nut.
Wholesale and Retail Price Trends
In the wholesale market, the price for large coconuts ranged between 175-185 rupees per nut, while smaller coconuts were priced between 155-165 rupees on March 27. The farmgate price in Kurunegala was reported to be 145-155 rupees per nut.
The price of coconut oil in the local wholesale market has also surged, ranging from 860,000 to 880,000 rupees per metric ton, while copra prices have varied between 112,500 to 137,500 rupees per 250 kg.