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Coconut prices down

Dec 9, 2010 11:06:34 AM - itnnews.lk

A notable decline is witnessed in the price of coconut. At last week’s auction, the price fetched by a coconut was 43 rupees. However, at today’s auction it fetched 35 rupees. Accordingly, Chairman of the Coconut Development Authority Sudath Handunge expressed optimism that a further price decline could be seen in the future.

Mr. Handunge pointed out that the highest price at which 1000 coconuts fetched at the auctions today was 35,000 rupees. The maximum price at last week’s auction for 1000 coconuts was 43 thousand rupees. Accordingly, he said that the maximum price for which 1000 nuts can be obtained from plantations will be 35,000 rupees that is about 35 rupees per nut. The minimum price at the auctions was 33,000 rupees per 1000 nuts. Accordingly, the price of a nut was 33 rupees. The Coconut Development Authority Chairman was optimistic that there could be a further decline in the price based on the supply and demand in the market.