Sri Lanka is shifting its focus from traditional exports like tea and rubber to coconut-based products in response to global economic changes. Coconut milk, in particular, is experiencing a surge in demand due to shifting consumer preferences towards healthier, plant-based alternatives. By maximizing its coconut resources and diversifying its coconut exports, Sri Lanka aims to boost its economy, create profitable opportunities, stabilize coconut prices, and promote sustainable agriculture.
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By Randeewa Malalasooriya In recent times, Sri Lanka has been rethinking its approach to exports in response to global economic changes. It’s moving away from its traditional exports like tea and rubber and exploring new avenues to make the most of its rich agricultural resources. Among the main agricultural exports, coconut is one such resource that has numerous opportunities. Coconuts, deeply ingrained in Sri Lanka’s agricultural heritage, are now at the forefront of this transformation. These versatile fruits play a vital role, contributing approximately 12% to the nation’s overall agricultural output. Sri Lanka boasts an annual coconut crop of 2.8 to 3.2 billion nuts, according to CRI statistics. Yet, this abundance falls short of the annual requirement of 4.6 billion nuts, a demand driven by domestic consumption, coconut oil production, and exports. Global recognition in the coconut industry On the global stage, Sri Lanka has gained recognition in the coconut industry, ...
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