Sri Lanka coconut prices down 2.2-pct at auction
Sep 07, 2018 14:07 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - Sri Lanka's coconut prices fell 2.2 percent to an average of 37.06 rupees a nut at this week's auction in Colombo, official data shows.
Sellers offered 1,232,834 coconuts at the Colombo auction September 06, and 1,083,785 coconuts were sold at an average price of 37,063 per 1,000 nuts down from 37,930 a week earlier.
Coconut prices at auction plunged 30 percent in the first week of August 2018, to 30,793 rupees a nut, amid better harvests, but have since recovered in a commodity price snap back.
Sri Lanka went through a severe drought in 2016 and 2017 but rains came back in 2018.
Global coconut prices and coconut oil prices have also fallen. (Colombo/Sept