Sri Lanka will, for the first time, establish an online system to conduct coconut auctions aimed at streamlining the procedure for the benefit of all stakeholders – auctioneers, brokers, dealers and producers, officials said. A senior official of the Ministry of Coconut Development and Janatha Estate Development told the Business Times that the Coconut Development [...]

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Online auction for Lankan nuts

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Sri Lanka will, for the first time, establish an online system to conduct coconut auctions aimed at streamlining the procedure for the benefit of all stakeholders – auctioneers, brokers, dealers and producers, officials said.

A senior official of the Ministry of Coconut Development and Janatha Estate Development told the Business Times that the Coconut Development Authority (CDA) has called expressions of interest and proposals to set up an online web-based, Internet system. The CDA is now evaluating the proposals to select a prospective bidder, he said.

The ministry has taken this decision following discussions with Information and Communication Technology Agency (ICTA) to get some support from the re-engineering government project, he said, adding that ICTA has suggested seeking private sector assistance. The CDA conducts copra and fresh coconut auctions regularly with the objective of ensuring remunerative nut prices to all stakeholders. It is held at 10 am every Thursday of the week and conducted by the CDA.




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