1.5 million coconuts for sale at e-auction

1.5 million coconuts for sale at e-auction

1.5 million coconuts for sale at e-auction

Written by Hassaan Shazuli

15 Apr, 2020 | 5:44 pm

COLOMBO (News1st): At least 1.5 million coconuts will go on sale at Thursday’s coconut auction to be held through video conferencing due to COVID – 19, state officials said, predicting the entire yield to be sold in three hours.

The Coconut Development Authority (CDA), last week conducted an online auction for the first time in 26 years and will conduct its second this week, with social distancing regulations in place to stem the spread of the coronavirus.

“The auctioneer will read out the lots, following which brokers and buyers will place voice bids to purchase the nuts,” Sampath Samarawickrama, the CDA Director of Marketing Development and Research told News1st.

Last week’s auction conducted on video conferencing platform Zoom, saw around 800,000 coconuts being purchased out of 1.3 million on sale, with an average rate of Rs 38.2 a nut.

Samarawickrama said that private buyers and five government suppliers Chilaw Plantation, Kurunegala Plantation, National Livestock Development Board (NLDB), Coconut Research Institute (CRI), and Coconut Cultivation Board (CCB) will participate in tomorrow’s e-auction.

“The aim of doing this is to ensure that coconuts are supplied without any disruptions during the current situation concerning COVID-19,” he added.

Sri Lanka rakes in an average annual income of Rs 110 billion a year through exports, the CDA said.

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