Sri Lanka to systematically limit RBD oil imports
Importing of coconut based products has become vital as the shortage of nuts has led to a steep rise in prices and through these imports they hope to gradually limit the importation of refined, bleached, and deodorized (RBD) palm oil.
A discussion was held on Thursday to consider the import of coconut based products for the export market and also how the import of these could help to limit the import of RBD oils, Coconut Development Authority Chairman Shantha Ranatunga told The Sunday Times Business on Thursday.
Coconut prices have been increasing since last month and has now reached Rs.200 and in some places has gone beyond Rs.200.
The increase in prices is attributed to the high demand of coconuts from the industries involved in the manufacture of coconut based products.
Sri Lanka imports a significant amount of RBD palm oil to meet its domestic demand. This imported oil is primarily used for cooking, as well as in the manufacturing of various processed food products, cosmetics and even biofuels.
In the meantime, Mr. Ranatunga said that the state coconut plantations provide a sufficient stock to the Sathosa outlets.
The cabinet paper prepared in this respect for the import of coconut-based products including dehydrated coconut chips, coconut powder and coconut milk is to be presented to the Cabinet next week, he said.
Mr. Ranatunga explained that authorities are not willing to go ahead with the import of fresh coconuts and in this respect this idea is likely to be shelved.
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