Oct 28, Colombo: Revenues from Sri Lanka's exports of coconut and coconut products have increased in the first seven months of this year compared to last year, the Ministry of Coconut Development and Janatha State Development has said.
According to the data from Coconut Development Authority, from January to July this year Sri Lanka earned Rs. 28.2 billion from coconut products, a 15 percent increase from the same period in 2011. The total coconut export revenues in 2011 stood at Rs. 47.3 billion.
The coconut production has increased substantially this year under several programs launched by the Ministry.
In the first seven months the industry has produced 2 billion nuts out of the target of 2.9 billion nuts for the year 2012. Exports of fresh nuts increased 225 percent to 573.4 million nuts from last year's 176.3 million nuts.
The Minister of Coconut Development and Janatha State Development, Jagath Pushpakumara has attributed the rise in revenue to the diversification implemented in the field of coconut industry.
The Minister has predicted that by the end of the year it will be possible to exceed the limit of 3.0 billion nuts exceeding the anticipated production target for this year.