Govt. plans to launch second Coconut Triangle in Northern province

• Also announces plans to develop HS-code for palmyrah

Eyeing a US $ 2 billion annual export income from coconut and coconut-based products, the government plans to launch the second Coconut Triangle in the Northern province, in conjunction with the World Coconut Day that falls on September 2.
“Upon a special request from President Ranil Wickremesinghe, we are lunching the second Coconut Triangle connecting Pedro Point of Jaffna, Silawathurai in Mannar and Kokilai in Mulathiv, covering all the districts in the Northern province, on September 2 of this year,” Plantation Industries and Industries Minister Dr. Ramesh Pathirana said during a press conference held at the Presidential Media Centre, yesterday.

The initiative is in line with the target to generate US $ 2 billion in export revenue from coconut and coconut-based products during the next decade.
Dr. Pathirana noted that coconut has gained traction in the Northern province as a secondary crop after palmyrah, in particular due to higher prices.
The country recorded the highest coconut harvest of 3.2 billion nuts in 2023. 

Dr. Pathirana noted that the local consumption still accounts for two-thirds of coconut production, which limits exports of coconut-based products. 
Therefore, he emphasised that the shift in consumption habits is required to cut down wastage, in order to enhance the export capacity. 
Meanwhile, Dr. Pathirana shared that a number of initiatives are underway to develop palmyrah and palmyrah-based products, including developing an HS-code for palmyrah.
Coconut and coconut-based exports accounted for US $ 870 million in export earnings in 2022. However, Dr. Pathirana noted that the export revenue is likely to fall to US $ 750 million, due to the global economic conditions, in particular owing to the recession in the west. (NF)