Sri Lanka’s Second Coconut Triangle : Three districts revealed September 3, 2023 at 1:51 PM
In a strategic move aimed at bolstering export revenue, Sri Lanka has inaugurated its second coconut triangle in the Northern Province. This new triangle encompasses the regions of Jaffna, Mannar, and Mullaitivu Districts.
Plantation Minister Dr. Ramesh Pathirana emphasized the remarkable growth in coconut export revenue in recent years, attributing it to the diverse range of coconut-derived products that have garnered increased global demand. Projections indicate that this year’s exports related to coconuts are expected to bring in USD 700 million. Over the next decade, it is anticipated that coconut-based exports will contribute a substantial USD 2 billion to the nation’s revenue.
Sri Lanka traditionally allocated two-thirds of its coconut production for domestic consumption, with the remaining one-third designated for export. To further enhance export potential, Minister Pathirana highlighted the need to rebalance this ratio. This ambitious initiative aims to solidify Sri Lanka’s status as a prominent player in the global coconut market and foster economic growth in the Northern Province through increased coconut cultivation and processing.
The launch of the second coconut triangle represents a significant stride toward achieving these objectives and highlights Sri Lanka’s commitment to harnessing the full potential of its coconut industry.
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