Sri Lanka spends Rs. 140,022 mn on palm oil imports amid cultivation ban: Professor Nugawela

By Mangala Pavithrani

Colombo, April 30 (Daily Mirror) - Sri Lanka imported 38,210 metric tons of palm oil and 33,696 metric tons of coconut oil in 2025, Professor Ashoka Nugawela said.

Speaking at a media briefing held yesterday (29) on palm cultivation, he noted that palm oil imports have increased compared to 2024, when 34,708 metric tons were brought into the country.

He said the country spent Rs. 140,022 million on palm oil imports in 2025.

Professor Nugawela pointed out that Sri Lanka has lost a significant amount of potential income due to the ban on palm cultivation, which has prevented the expansion of around 8,000 hectares of new plantations.

He said the ban on palm cultivation was imposed in 2021, adding that Sri Lanka is the only country in the world to restrict such cultivation.

He further explained that, if cultivated using proper methods, oil palm can yield around four metric tons of oil per hectare. He added that the global market price of palm oil has currently risen to about US$1,100 per metric ton.