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Sri Lanka coconut auction prices sharply up in November

ECONOMYNEXT – Prices at coconut auctions in Sri Lanka’s capital Colombo had picked up sharply in November, amid seasonally weaker production and steady demand from dessicated coconut exporters, industry officials said.

The average price for a 1,000 coconuts went up 13.2 percent at the auction on November 29, 35,585 rupees from 31,420 a week earlier.

The top price went up to 40,000 rupees from 36,500 rupees a week earlier. The lowest price was 27,000 rupees.

Sellers offered 847,667 nuts for the auction and 708,586 was sold.

Among key buyers at the auctions are dessicated coconut exporters.

As prices of coconuts fell in 2019, Sri Lanka’s dessicated coconut exports grew 132 percent to 38,000 metric tonnes in the first three quarters of the year. (Colombo/Dec02/2019)