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Ceylon Chamber seeks approval to import 200mn. coconuts

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The Ceylon Chamber of Coconut Industries has urged the government for permission to import 200 million coconuts with the next few months.

President of the Ceylon Chamber of Coconut Industries Jayantha Samarakoon said that the major reason for the current coconut shortage is the spike in fertilizer prices.

Speaking at a media briefing held at the National Chamber of Commerce Auditorium yesterday (21), he mentioned that the coconut imports are essential at this time to counter a severe shortage that threatens both domestic supply and export revenue.

Samarakoon attributed the coconut shortfall to skyrocketing fertilizer prices, which have discouraged growers from adequately nourishing coconut crops. He warned that if coconut stocks needed for the coconut-based export industry are not imported immediately, Sri Lanka could lose approximately USD 1 billion in revenue.

He further highlighted that the country’s monthly coconut demand stands at 250 million nuts, of which 150 million are consumed domestically while 100 million are utilized by the industrial sector. However, production has failed to keep pace.

Sri Lanka’s annual coconut yield, which previously averaged 3 billion nuts, dropped to 2.68 billion nuts last year. The Coconut Research Institute has forecast a further decline this year, with production estimated to fall to between 2.4 and 2.6 billion nuts. The institute also predicts a shortfall of 200 million coconuts between January and April 2025, exacerbating the crisis.

In response, the Chamber has proposed importing alternative coconut products such as coconut milk, coconut kernel, dried coconut kernel, or peeled coconuts to bridge the deficit.

Additionally, Samarakoon noted that a steep increase in fertilizer costs—from Rs. 1,500 to Rs. 12,000 per 50 kg bag—has resulted in reducing the growers using fertilizer to less than 10%, further worsening the production slump. 

The Chamber has requested that the government provide fertilizer at a subsidized price of Rs. 4,000 per bag and expressed optimism that the upcoming budget will address this issue.

The Chamber also urged the government to introduce subsidies for water supply and soil conservation, which are critical to sustaining coconut cultivation.

(adaderana.lk)

(Except for the headline, this story, originally published by adaderana.lk has not been edited by SLM staff)

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Hasitha Jayawardena appointed as Melstacorp Chairman

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Hasitha Jayawardena, son of late business tycoon Harry Jayawardena, has been redesignated as the Executive Chairman of Melstacorp and Distillaries Company effective 6 February. 

“Jayawardena has over 12 years of experience in the management of companies under the guidance of his late father Deshamanya D H S Jayawardena, in various diversified fields in the Group. 

“He has been managing and providing strategic direction to the plantation sector and leisure sector of Melstacorp Group. He also functions as the Managing Director of Stassen Group of Companies, ” a filing to the Colombo Stock Exchange said.

(dailymirror.lk)

(This story, originally published by dailymirror.lk has not been edited by SLM staff)

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Over 13,000 police complaints filed against Onmax DT

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Over 13,000 police complaints have been filed against Onmax DT so far, it was revealed in courts.

Appearing on behalf of the Attorney General, Senior State Counsel Oswald Perera informed the Colombo Chief Magistrate Thanuja Lakmali yesterday (Feb. 05) that complaints are still being filed at police stations by those who had fallen victim to the company’s pyramid schemes.

These complaints are filed according to a special complaint form sent to all police stations by the Inspector General of Police on the instructions of the Attorney General.

The court was also informed that investigations are being conducted under 04 categories on the instructions of the CID Director.

07 suspects who were previously released on bail appeared before the court when the case was taken up yesterday.

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Entrepreneur Hemaka de Alwis passes away

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Renowned entrepreneur Hemaka de Alwis has passed away.

A lawyer by profession, de Alwis was the Chairman and Managing Director of Fairway Holdings. 

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