Apr 08, 2018

Coconut prices likely to come down (video)

The local coconut production is on the increase and the the current price ranging from Rs. 50 - Rs. 75 is likely to come down by the New Year, says chairman of Kurunegala Plantations Ltd. - Upali Piyasoma.

According to him, Kurunegala Plantations supplied coconuts to the CWE (Sathosa) at Rs. 65 per coconut during Christmas when the prices were high.

Although they expected supply to the CWE again, the CWE has not made a request as coconut prices in the general market had gone down with the supply.

“Coconut prices to drop during New Year” / “අවුරුදු සමයට පොල් මිල අඩු වෙනවා” from SRI LANKA MIRROR on Vimeo.

Record profit
Piyasoma also says that in 2017, Kurunegala Plantations recorded their highest ever profit in the plantation history. Out of this Rs. 240 million profit, Rs. 28 million will be given to their employees as a monetary incentive. 

All of their employees will be given a bonus, which will be twice the amount of their wage, he adds. 

Rs. 30m to the coffers
The chairman also said they intend to add Rs. 30 million to the Treasury within next month, out of their 2016 profits.