By Ifham Nizam

Sri Lanka’s coconut industry is facing a significant crisis, with production levels plummeting from three billion nuts annually to just 2.85 billion nuts. Erratic policies of previous governments regarding fertilizer use have played a key role in precipitating this situation, Coconut Development Authority (CDA) chairman, Shantha Ranathunga said.

Speaking to The Island Financial Review, Ranathunga highlighted that the impact of foreign exchange fluctuations has led many farmers to neglect best practices in nurturing coconut trees, thus exacerbating the problem.

Ranathunga added: ‘Additionally, the industry is grappling with various diseases and pest infestations, often a result of insufficient care and oversight. Despite these challenges, the global market is witnessing an unexpected boom for local exporters. A shortage of coconut supplies in the Philippines and Indonesia has created opportunities for Sri Lankan exporters, who are now able to secure better prices for their products.

‘In response to the escalating global demand and prices for coconuts, including desiccated coconut, the government has begun implementing measures to facilitate imports of coconut kernel. This decision, which follows requests from major companies like Nestle and CBL, is intended to support the local export market.

‘A Cabinet paper is currently being prepared to grant exporters the authority to import any quantity of coconut kernel they require, thereby removing restrictions that have previously hampered supply.

‘We have concerns over the influence of a “coconut mafia,” which has manipulated local prices, resulting in retail costs soaring to Rs. 150-160 for coconuts purchased from estates at Rs. 90-100. To counteract this, we have urged state estates participating in the coconut auction at the CDA to set auction prices at a minimum of Rs. 105, aiming to curb excessive profits made by middlemen.

‘Furthermore, the CDA is taking steps to provide financial relief to farmers. A subsidy of Rs. 60,000 to 65,000 per acre—covering approximately 50 trees—will be available, financed from the CDA’s funds. This initiative aims to assist small farmers in acquiring the necessary fertilizers to boost coconut production.

‘With local coconut and coconut oil prices rapidly escalating, the urgency to stabilize the domestic market has never been greater. Rising global edible oil prices have compounded these issues, with refined coconut oil prices climbing from USD 1,320 to USD 1,880 per ton, while palm oil prices approach USD 1,250 per ton due to climatic impacts and increased international demand.’

Hosts top 125 dealers and their families at two-day event at Cinnamon Grand and Port City

Sri Lanka’s leading tyre brand CEAT pulled out all the stops to felicitate and recognise top dealers at a two-day convention and awards gala at the Cinnamon Grand and the Port City recently, blending glitz and fun with an illuminating technical session.

Themed ‘Autobahn’ to reference the German engineering, research and development expertise that underpin the brand, the event revolved around Sven Rath, General Manager – Global Outdoor Testing at the CEAT Research & Development Centre in Frankfurt, Germany, who was present in person.

Delivering the welcome address at the awards dinner, CEAT Kelani Holdings Chairman Chanaka De Silva said that collectively, the 125 top dealers felicitated represent the heartbeat of the company and are a vital part of its success.

Pointing out that CEAT Kelani had achieved several significant milestones despite the challenges in the market, De Silva said the company had continued to grow, innovate and serve customers better than ever before, retained its status as the most-loved tyre brand in the country, and received an AA+ rating from Fitch for the fourth consecutive year in 2024.

CEAT’s top 10 dealers countrywide received handsome awards for their contributions to the Company’s performance while the top 45 dealers received awards of excellence, and the top performers in each of tyre categories manufactured by the company were recognised separately at the dealer convention. A noteworthy feature was the presence of representatives of two of CEAT’s top customers in two key export markets – Singapore and Egypt.

Top dealers honoured at the event received cash awards, gift vouchers, trophies and certificates in recognition of their performances in each of the product categories that CEAT manufactures, as well for overall excellence.

Kumon Dehiwala Learning Centre held its Annual Advanced Student Honor Roll (ASHR) Awards ceremony at the Bishops College Auditorium on the 03rd of November 2024 under the patronage of Yohei Nakagawa, Managing Director, Kumon India Sri Lanka, Guests of honour including Ms.Prerna Moitra- Area Development Manager (Kumon India Sri Lanka.

Bangalore South-Sri Lanka division, Principal Bishops College- Ms.Chemali Goonethikale Herath, Ms. Jalani Premadasa and the directress for Kumon Dehiwala Learning Centre Ms.Femidah Wahid. The occasion was graced by almost 700 participants including dignitaries from various industries.

The ASHR Awards ceremony celebrates students who have demonstrated exceptional academic excellence by surpassing studying content beyond their respective school grade levels by 6 months,2 years ,3 years and 5 years. This year, Kumon Dehiwala has produced 314 awardees including 35 Kumon programme completers- one of the highest numbers of award recipients across India- Sri Lanka. The ceremony also celebrated the receipt of the third international award for the year. The celebration also commemorated the 10 year journey of Kumon Dehiwala and the success stories of its alumni (124 program completers) -a moment of immense pride and reflection.

In recognition of the outstanding performance in 2024, the Kumon Dehiwala learning centre was presented with an Award of Excellence at the prestigious Kumon Asia Oceania (K.A.O) conference 2024. The centre was recognized as one of the top three centres for producing the highest number of programme completers for native language programme(across 2400 Kumon centres globally).