Levy on coconut exports to be reduced

Stanley Seneviratne Kurunegala North group corr.

The Government will reduce the export tax levy to capture the lucrative export market for the main three commercial crops, Plantation Minister D. M. Jayaratne said.

The minister has agreed to reduce the Rs. 2 export levy imposed on each row coconut nut to Rs. 1. With the new move, coconut growers are capable of exporting Rs. 23 million worth of coconuts within the next three months, he said.

Minister Jayaratne addressing coconut growers representing all parts of the country said a consolidated fund should be maintained for the development of the coconut sector. “Whenever the industry is in crisis the fund would be extremely important to provide financial assistance to coconut growers and industrialists producing coconut based products,” he said.

He pointed out that he had made arrangements to prepare an accurate report of coconut oil production and conduct a survey on the quantity of palm and other oils imported to the country.

The Minister said the survey would be important to restrict the import of edible oils which has flooded the market. This process would be useful to import only the required amount of edible oil to the country.