The National Movement for Consumer Rights Protection (NMCRP) has issued a warning about a possible increase in local coconut oil prices. This concern arises from the government's budget proposal to eliminate the Special Commodity Levy on coconut oil and palm oil. During a media briefing in Colombo on the 29th, NMCRP chairman Ranjith Vithanage expressed that this decision could have serious impacts on both the market and public health. He highlighted the risk that coconut oil may be mixed with harmful oils before reaching consumers in Sri Lanka. Vithanage mentioned that starting April 1, the price of locally produced coconut oil might rise. He pointed out that removing the levy could lead to more palm oil and other substitute oils being available in the market. Medical professionals have indicated that coconut oil is the best choice for deep-frying, while palm oil and similar alternatives have been associated with higher health risks. Additionally, he noted that exporters are taking coconuts meant for local coconut oil production and sending them abroad, leading to a shortage of coconut oil in Sri Lanka. This scarcity has pushed consumers to seek out palm oil and other cheaper oils.
Popular News
