The Ministry of Agriculture and Rural Infrastructure has initiated urgent discussions to introduce a fair minimum price (Floor Price) for coconuts, aimed at protecting farmers while ensuring consumers receive coconuts at fair market rates.
The meeting, chaired by Minister Samantha Vidyaratna recently, focused on stabilizing the industry amid falling global coconut prices that have pressured local purchase rates.
Officials stressed that immediate measures are needed to safeguard both farmer incomes and market stability.
Minister Vidyaratna highlighted the government’s national target of raising annual coconut production to 4,200 million nuts by 2030 and boosting export earnings from coconut‑based products to USD 1.5 billion.
He underscored the importance of strengthening local farmers, protecting plantations, reducing production costs, and maintaining price stability to achieve these goals.
The Minister also directed that a broad consultation be convened urgently with the Coconut Cultivation Board, Coconut Development Authority, Coconut Research Institute, farmers, processors, and other stakeholders to take swift decisions on price control and sustainable industry development. (Newswire)