Business

Coconut Development Authority rejects media reports on ‘toxic’ coconut oil in the market

Published

5 years ago

2022/01/26

Imported coconut oil first goes to the refinery before going to the market. and once they are refined only, they are authorised to be sold in the local market, CDA chairman says.

by Sanath Nanayakkare

All coconut oil stocks imported to the country are subjected to stringent quality checks by the Coconut Development Authority (CDA), the Sri Lanka Standards Institute (SLSI) and the Ministry of Health, therefore, there’s no room for any imported coconut oil with toxic substances to enter the Sri Lankan market, CDA Chairman Keerthi Sri Weerasinghe told The Island Financial Review (IFR) yesterday.

He said so when the IFR spoke to him in the wake of several media reports that imported coconut oil containing Aflatoxins have found their way to the shelves of supermarkets and grocery stores in the country.

“We have a stringent process for checking the quality of imported coconut oil and only if the government stipulated criteria is met, we allow imported coconut oil to be brought into the country beyond the Port of Colombo. So we categorically deny these unfounded reports that may have caused a sense of undue fear in consumers,” he said.

Further speaking he said: “If we find any coconut oil stock that doesn’t meet our standards, we take immediate action to re-export or repatriate it. Even the stocks that are found to be non-toxic don’t directly go to the consumer. These goods first go to the refinery before going to the market. and once they are refined only, they are authorized to be sold.”

“At the refinery, all imported coconut oil stocks are subjected to a physical RBD process, meaning it is Refined, Bleached, and Deodorized to remove any contaminants. It is a physical process entirely without any chemical treatments. The Aflatoxin level of coconut oil gets to zero after this meticulous RBD process. Furthermore, only trace amounts of fatty acids are left after this refining process, enhancing the nutritional value of the coconut oil,” he explained.

“I can assure consumers as chairman of the CDA that RBD oil can be consumed without any fear or concern though it can cost a bit more than other varieties they find in the market. It is no secret that some local mills use copra with fungus to extract coconut oil. The perishable copra is dried outdoors but there is no proper cleaning of the fungi before the oil is extracted. These mills don’t refine, bleach or deodarize their products nor do they bother about toxic substances or fatty acids and they tend to sell their goods on the outskirts of cities. Most of these nefarious trade practices take place outside of Colombo.”

When asked about coconut oil imports to the country, he said,” Coconut yield is not always the same year-round. There is a good yield season and a not so good season. So we have given permission to import coconut oil. We import about 200, 000 tonnes which is 80% of our total coconut oil requirement. The import tax varies according to available local yields to strike a balance between imports and consumer prices. Also, we have to be mindful of having enough coconuts going round for manufacturers of coconut-based products. Otherwise their cost of production will go up and their export businesses will have a negative impact. So it’s a careful balancing act between having enough coconut oil and coconuts for consumers and leaving enough coconuts for industrialists for their business activities while at the same time making sure that no toxic or substandard coconut oil enters our market,” he said.

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Business

Asia-Pacific business leaders to accelerate sustainable business action

Published

2 hours ago

2026/08/27

Sahan Weerasooriya

More than 200 senior business leaders, policymakers, investors, sustainability practitioners and United Nations representatives convened in Colombo on 11–12 August for Forward Faster Now | APAC 2026: Driving Business Leadership for Sustainable and Inclusive Growth—the United Nations Global Compact’s flagship regional forum in Asia-Pacific.

Hosted by UN Global Compact Network Sri Lanka and organized by the UN Global Compact APAC Hub in collaboration with 14 Global Compact Country Networks, the forum strengthened regional collaboration and demonstrated the growing role of business leadership in advancing sustainable and inclusive growth across Asia-Pacific.

More than 80 high-level speakers from across the region contributed to the two-day programme, bringing together expertise from business, finance, government, the United Nations and civil society. The forum also convened an exceptional audience of CEOs, C-Suite, Board Directors, Heads of UN agencies and senior decision-makers, creating one of the region’s most significant platforms for cross-sector dialogue on sustainable business.

Across plenary dialogues, leadership panels and action-oriented workshops, participants explored the issues shaping the future of business in Asia-Pacific, including climate action, sustainable finance, gender equality, resilient supply chains, water stewardship, governance and integrity, digital innovation, human rights due diligence, circular economy solutions and ESG data for decision-making. Rather than focusing solely on ambition, Forward Faster Now challenged businesses to move from broad sustainability goals to target setting, practical decisions, stronger systems and action that can deliver progress at scale.

A defining milestone of the forum was the visit of Sanda Ojiambo, Assistant Secretary-General, CEO and Executive Director of the UN Global Compact. Her presence in Sri Lanka underscored the country’s growing role within the regional sustainability agenda and reinforced the importance of private sector leadership in delivering the Sustainable Development Goals.

Beyond the public programme, her visit included a series of bilateral engagements and strategic convenings with business and institutional leaders, deepening relationships and opening new avenues for engagement between the UN Global Compact and stakeholders in Sri Lanka.

The event also marked the launch of three significant initiatives by UN Global Compact Network Sri Lanka that will extend the impact of the convening well beyond the event itself. The Responsible Business Coalition was introduced as a new partnership to embed sustainability, and strengthen governance by bringing together Sri Lanka’s leading professional and industry associations to embed the Ten Principles of the UN Global Compact into their existing convening, training and thought-leadership channels, moving responsible business from a standalone function to a shared C-Suite and Board responsibility.

Business

Sri Lanka Insurance Corporation General celebrates ‘One Team, One Vision’ sales excellence at Annual Awards 2025

Published

2 hours ago

2026/08/27

Sahan Weerasooriya

The Sri Lanka Insurance Corporation General Ltd. (SLICGL) team gathered to honour its top-performing sales professionals at the Annual Sales Awards 2025, held under the theme ‘One Team, One Vision’ on 20th August at the Monarch Imperial.

The evening convened sales leaders and high achievers throughout the island to celebrate a year of sustained performance, customer trust, and commitment which has kept SLICGL at the forefront of Sri Lanka’s general insurance sector.

Affirming SLICGL’s appreciation for the people driving success on the ground, the Sales Awards 2025 recognised those who went beyond targets, deepened client relationships, and contributed directly to the company’s continued expansion.

The event drew an unprecedented audience of over 700 participants. This year’s celebrations recognised a record number of winners, more than double the achievements honoured last year covering a diverse range of award categories reflecting excellence at every level of the business.

Nusith Kumaratunga, Chairman, Sri Lanka Insurance Corporation graced the event as the Chief Guest together with the Board of Directors and senior management of SLICGL also present as invited guests, encouraging and commending the winners for their outstanding achievements.

The award winners at this year’s ceremony included Insurance Advisors, Marketing Executives, Branch Managers, Regional Managers, and members of the Head Office Sales Channels, who were recognised and celebrated for their outstanding achievements in multiple categories.

Business

Sri Lanka to host SEARIC Summit 2026 for the first time, welcoming over 500 youth leaders from across South East Asia

Published

2 hours ago

2026/08/27

Sahan Weerasooriya

(Left to Right: District Rotaract Representative of Sri Lanka and Maldives - PHF Rtn. Rtr. PP Dr. Jude Lucian, Chief Executive Officer of Destination Management Sector at John Keells Holdings PLC – Nalaka Amaratunga, SEARIC Summit Sri Lanka 2026 Chair – PDRR Akhila Wijetunga, Rotary District 3220 Governor of Sri Lanka and Maldives - Rtn. Kumar Sundararaj)

Sri Lanka is set to host the SEARIC Summit 2026 from 11 to 13 September 2026 at the Pegasus Reef Hotel, marking the first time the country will host the flagship regional gathering of the South East Asia Rotaract Information Centre (SEARIC).

Hosted by Rotaract in Rotary International District 3220 (RID 3220) – Sri Lanka & Maldives, the three-day summit is expected to bring together more than 500 delegates from six countries, creating a regional platform for leadership development, knowledge exchange, cultural understanding and collaboration among young leaders. The South-East Asia Rotaract Information Centre (SEARIC) serves as a regional platform connecting Rotaract districts across South East Asia. It facilitates collaboration, information exchange, cultural understanding and joint initiatives among Rotaractors across the region. The annual SEARIC Summit serves as the network’s flagship gathering, bringing together Rotaractors and Rotarians from participating countries for shared learning, fellowship, cultural exchange and collective growth.

Under the theme “The Role of Technology in the Future of Careers and Services,” SEARIC Summit Sri Lanka 2026 will explore the rapidly changing relationship between technology, careers, leadership and community service. As emerging technologies continue to transform industries and the way people work, the summit will provide a platform for young leaders to examine how technology can be used not only to prepare for the future of work, but also to strengthen the way communities are served. Across three days, delegates will participate in leadership and professional development sessions, discussions, cultural experiences, networking opportunities and community-focused programming, with the central theme reflected throughout the summit programme.

Beyond the Rotaract movement, the event also contributes to Sri Lanka’s broader positioning as a destination for international conferences, youth leadership programmes and regional collaboration. With hundreds of international delegates travelling to the country, the summit provides an opportunity to showcase Sri Lanka’s hospitality, culture and potential as a host destination for future international gatherings. The event further creates a platform for young leaders from across South East Asia to connect with Sri Lankan counterparts, exchange ideas and explore opportunities for cross-border collaboration.