Industry players in Sri Lanka have been rethinking their approach to exports in response to global economic changes. The sector is moving away from its traditional exports like tea and rubber and exploring new avenues, to make the most of its rich agricultural resources.
Among the main agricultural exports, coconut is one such resource that has numerous opportunities. Therefore, coconuts are now at the forefront of this transformation. These fruits are contributing approximately 12% to the nation’s overall agricultural output.
Sri Lanka has an annual coconut crop of 2.8 to 3.2 billion nuts, according to CRI statistics. Yet, this abundance falls short of the annual requirement of 4.6 billion nuts, a demand driven by domestic consumption, coconut oil production, and exports.
The most remarkable aspect of this transformation is Sri Lanka’s shift from traditional exports to innovative and value-added coconut products. This transition underscores not only adaptability, but also the immense potential that coconuts offer as a versatile and lucrative export commodity.
Source: island.lk