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Highest income recorded from gem exports after 12 years

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The highest income from gem exports since 2010 has been recorded this year, National Gem and Jewellery Authority of Sri Lanka Director General Pradeep Thenuwara said.

He said more than 380 million USDs have been earned this year from the export of gems, including sapphires.

The National Gems and Jewellery Authority said that in the last 11 months, it has earned a record income more than the previous year.

Accordingly, it is reported that the 355 million USD income that was targeted to be earned from gem exports this year has already been exceeded.

Mr. Thenuwara said that sapphires found in Sri Lanka are popular in the world market and the largest amount of exported gems are sapphires.

Most gems have been exported to China, the US, Britain, Malaysia, Hong Kong while Israel has bought diamonds.

An income of 500 million USDs has been targeted from gem exports for 2023, and the Authority said it will provide facilities including new technology to the miners to achieve this target.

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No justification for coconut oil price hike – Coconut Development Authority

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The Coconut Development Authority has stated that there is no valid reason for a price increase of coconut oil in the local market.

CDA chairman – Prof. Roshan Perera has emphasized that there has been no tax hike on imported coconut oil.
Given the sufficient supply of coconut oil for domestic consumption, Prof. Perera asserted that any price increase is unjustifiable.

Additionally, a new regulatory program is being planned to control and stabilize coconut oil prices in the market, he added.

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Coconut oil price upped

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The price of a litre of coconut oil has been increased by more than Rs. 100, the National Consumer Front (NCF) has said.

NCF Chairman Asela Sampath said that the price of a litre of coconut oil has been increased by between Rs. 180 and Rs. 200. 

Accordingly, the current retail price of a coconut oil litre is Rs. 550.

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Registration compulsory for all money changers 

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The Central Bank has issued a notice making it compulsory for all money exchange institutions to be registered with the Central Bank and regulated by it. 

The CB order is in effect from 3 June 2024. 

The Central Bank states that all money changers who are currently not registered will now receive the opportunity to provide such services in a systematic and regulated manner. 

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