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Last updateSun, 10 Dec 2017 6pm

Business News

The Coconut Plantation Board takes steps to sell a coconut at 65 rupees.

The Coconut Plantation Board has taken steps to sell a coconut at 65 rupees. The public can purchase coconuts under the new price directly from the Coconut Plantation Board. Chairman of the Board Kapila Yakandawala says that one million nuts will be released to the market next Monday. Mobile lorries will be utilized to market them. In addition, all SATHOSA outlets will also sell Coconuts at 65 rupees, upon an agreement between the Coconuts Plantation Board and SATHOSA. He further stated that 50,000 nuts will be provided to SATHOSA. He added that the fair price range should be between 70 and 75 rupees. However, organized businesses that intend to plunder consumers have caused a price hike.

Nevertheless, due to timely intervention by the government and the Ministry of Plantation Industries, the market price has now come down to 80 rupees. Organizations and areas that maintain an unreasonable high price have been identified. More mobile lorries will be directed to these identified areas.

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