Govt urged to invest in coconut
Sri Lanka’s coconut growers’ industry has requested the authorities to consider supporting the sectors’ smallholders with investment support – as a loan – to increase yields for the long term.
This investment is recoverable and will help to improve the export income from the coconut industry, the Ceylon Chamber of Coconut Industries (CCCI) President Jayantha Samarakoon told The Sunday Times Business.
He noted that if an investment of Rs.7500 was made per coconut tree of 30-50 age then its yield will increase generating around 80-90 nuts per year. In this respect the Rs.7500 investment is likely to be recovered in about two years.
If the government were to provide this amount of money as a loan for the smallholder growers with a two-year grace period, then any grower will be able to invest.
The President is trying to provide the 60 per cent of growers that comprise smallholders with this kind of investment as they are unable to meet this expense, Mr. Samarakoon said.
He pointed out that the government is likely to make the relevant allocation for this purpose in the next budget. This funding will be channelled through the local banks.
He explained that the benefit of this will be generated through the export income and this investment made will be recovered in about three to four years (by the authorities).
The coconut industry is also in discussion with a number of stakeholders like the ministries, UNIDO, Coconut Research Institute and the Institute of Policy Studies among others to prepare a roadmap for the coconut sector.
“We ask the government to provide low interest loans as an investment support for moisture conservation, fertiliser and water supply,” Mr. Samarakoon said.
Sri Lanka’s exports in coconut based products in the first six months have reached US$ 530.92 million which is a 33 per cent growth compared $3 99.07 million earned in the same period last year.
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