Coconut prices manipulated by middlemen

COLOMBO (News 1st) - Although the prices of coconut have dropped consumers do not receive that benefit and the planters continue to be burdened. A more logical question would be, who benefits from the drop in coconut prices? A price of a coconut stands between Rs. 20 to 30 in areas that fall under the coconut triangle. Speaking to News 1st, a coconut planter said that two to three months ago, the wholesale price of a coconut had been Rs 70 and that it had declined up to Rs 50 last month. The planter also said that the prices have further reduced to Rs 25 and Rs 28 and that the price has not reduced this fast in the past. The wholesale prices in Colombo are between Rs 40-45 but the retail price is around Rs 70. The coconut planters also said that the reduction in the price does not pass onto the consumer and that the benefits are only enjoyed by the middlemen. Chairman of the Coconut Cultivation Board, Kapila Yakandawala said the production of coconut has increased. However, he also said that the prices of coconuts remain the same as the middlemen enjoy its benefits.