According to data from the Coconut Development Authority, average coconut prices in Sri Lanka increased by 3% at a weekly auction after the global price increase.
A week ago, 1,000 nuts cost 160,464.02 rupees, but now the average price is 165,533.82 rupees.
According to Viet Nam’s VNExpress Newspaper, climate and pests have caused a shortage of coconuts in Thailand, the Philippines, and Vietnam, the three countries that export the most of them.
“Traders are finding it difficult to obtain supply, as industry insiders reported that coconut prices have more than doubled from the same period last year,” VNExpress stated.
As coconut oil, a necessary component of creating ice cream, rises in price this summer, the ice cream sector in the United Kingdom has been negatively impacted, according to Bloomberg.
From 960,000 to 980,000.00 rupees per metric ton, the local wholesale price of coconut oil dropped to 860,000 to 880,000 rupees per metric ton.
At the auction, a coconut brought the maximum price of 188 rupees and the lowest price of 153 rupees.
A week ago, there were 413,620 coconuts offered at the weekly auction; now, there are 380,317.
On May 15, huge nuts were selling for 200–210 rupees at wholesale pricing in the local market, while little nuts were selling for 170-180 rupees.
In Kurunegala, farmgate prices ranged from 150 to 170 rupees per nut.
Each 250 kg of copra cost between 140,000 and 150,000 rupees.
