Plantations Minister Dr. Ramesh Pathirana stated that the export of coconuts and related products earned about US $ 850 million last year.

Dr. Pathirana further stated that as there is a high demand in the world for local coconuts and allied products, the export earnings could be increased up to 20 percent annually.
This was stated by Dr. Pathirana at the inauguration of the Middeniya Hybrid Seed Coconut Production Center in Tangalle.

Chamal Rajapaksa, who was the Agriculture Minister in 2005, has transferred about 25 acres from the Middeniya Agriculture Center to the Coconut Research Institute. This hybrid seed coconut production center was established on the same land.

The government aims to produce two million low-yielding, high-yielding hybrid coconut seedlings by 2023.
Speaking further Dr. Pathirana said last season the Coconut Cultivation Board produced 20 million coconut seedlings annually. But that amount is not enough to meet the demand for coconut seedlings. Therefore, the Plantation Industries Ministry has commenced a project to produce as many coconut seedlings as the country needs.

Accordingly, the Plantations Ministry expects to produce at least five million coconut seedlings this year. To achieve this goal, the government hopes to produce 5,000 coconut seedlings under the community contribution of the Coconut Research Institute, Coconut Cultivation Board as well as each Divisional Secretariat. 

The Coconut Cultivation Board will provide 5000 high-quality coconut seeds for this purpose. Anyone can cultivate those seeds on their land. Ten months later, a guarantee will be given to continue it as a business.

Also, there is a huge demand in the country for hybrid coconuts that bear fruit in a very short time. However, the annual production of hybrid coconut seedlings in our country is around 200,000. 

Accordingly, the Coconut Cultivation Board has taken over the responsibility of producing hybrid coconut seedlings in government coconut estates as well as selected private estates. Accordingly, it is expected to produce two million hybrid coconut seedlings by next year. Finance Minister Basil Rajapaksa has provided the necessary financial allocations for these projects.