The Minister of Agriculture and Plantation Industry, Mahinda Amaraweera stated that in a move to bolster Sri Lanka's position as a leading exporter of king coconuts, exporters have agreed to uphold prices at 2000 rupees per fruit.
Accordingly, the decision came amidst plans to expand king coconut cultivation, with the inauguration of the second king coconut cultivation village near Murutawela Raluwa village.
The initiative aims to meet the growing demand for Sri Lankan king coconuts, particularly in the United Arab Emirates (UAE) and other international markets.
With approximately 252,000 king coconuts exported to the UAE weekly, the industry generated an impressive income of two billion rupees in 2022, with expectations soaring to six billion rupees in 2023.
Minister Amaraweera also stated that, Sri Lanka's monopoly in the world market for king coconuts remains unchallenged due to the unparalleled taste and quality of its produce.
According to him, Sri Lanka exports around 200 containers of king coconuts to the Dubai market monthly, fetching premium prices compared to global competitors.