November 18, 2024 | DAWN |
Sri Lanka’s coconut prices continued to decline for the third consecutive week, dropping to an average of 99,684.19 rupees per 1,000 nuts at the November 13 auction. This follows a peak of 105,000 rupees on October 24. At the Coconut Development Authority (CDA) auction, 284,870 coconuts were offered, with 231,221 sold. Prices ranged from 95,000 to 100,000 rupees per 1,000 nuts.
Wholesale prices varied, with large nuts selling for 140-150 rupees and small nuts for 110-120 rupees each. Farmgate prices in Kurunegala ranged from 100,000 to 110,000 rupees per 1,000 nuts.
Coconut oil wholesale prices were reported at 750,000 to 770,000 rupees per metric ton, while coconut shells fetched 40,000 to 42,000 rupees per metric ton.
The price dip coincides with the pre-election period, reflecting fluctuations in the market amidst broader economic conditions.
