In an effort to contain the rising cost of living (CoL) especially the rising price of coconuts, the Cabinet yesterday decided to permit the import of coconut kernel to lower prices.
The soaring prices of coconut had impacted on 33 per cent of the cost of living while the price on rice had a 27 percent impact. The number of coconuts released to the retail market for household consumption had dwindled in recent years because of the surge in demand by industries manufacturing value added products such as cooking oil.
Against this background the government decided to permit the relevant companies to import kernel for their industries and thus allowing coconuts to be released to the retail market. At present, there are also restrictions in the quarantine laws to import coconuts.
The government has decided to take further measures for the import of rice to maintain stocks. (Kelum Bandara)