Coconut Development Authority opposes unjustified coconut oil price increase

Coconut oil

(Photo by Towfiqu barbhuiya – Pexels)

The Coconut Development Authority in Sri Lanka states that there is no justifiable reason to increase the price of coconut oil in the market.

According to Chairman Professor Roshan Perera, despite imports doubling to 42,000 metric tonnes by May this year compared to last year, there has been no increase in taxes on imported coconut oil.

Professor Perera emphasized that ample supply of coconut oil is available for domestic needs, making any price hike unjustified.

Furthermore, he announced plans for a new regulatory initiative aimed at managing and stabilizing coconut oil prices in the market, ensuring fair pricing and availability to consumers nationwide.