Sri Lanka’s coconut prices steady, export ban lifted

Sri Lanka coconut prices fell 5.4 percent at Thursday’s auction in Colombo, to 36,346 rupees for 1,000 nuts, after rising 3.7 percent to 38,428 a week earlier.

At this week’s auction in Colombo, 689,948 nuts were offered and 358,440 were sold.

Prices fell as slow as 30,723 on August 16.

Sri Lanka has also lifted a ban on the export of fresh coconuts from this month, authorities said.

Sri Lanka banned the export of fresh nuts after a drought hit global production driving coconut prices to record levels.

Global coconut prices have also come down.