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Monday June 3rd, 2024

Sri Lanka earns 3.4bn from coconut water export in Feb: Minister

ECONOMYNEXT – Sri Lanka earned 3,439 million rupees in February from the export of coconut water, its Minister of Agriculture and Plantation Industries has said.

“It has been possible to earn an income of 3439 million rupees by February 2024 from exporting coconut water from Sri Lanka,” Minister Mahinda Amaraweera said on social media.

“If not for wildlife eating crops this would have been higher; around 300 million coconuts are lost annually due to wildlife damage,” Amarweera posted on his Facebook page.

In February last year, Sri Lanka earned 2705 million rupees from exporting coconut water, according to Coconut Development Authority data.

President of the Coconut Development Authority, Roshan Perera, said there had been an increase in export income of 734 million rupees by February this year compared to last year.

There is a growing demand for coconut water, an isotonic liquid considered a superfood. The natural energy drink can replenish fluids and minerals of the human body as it contains glucose, potassium, calcium, magnesium and phosphorus.

Sri Lanka currently uses about half of the country’s total coconut production, which is around 3 billion nuts. With approximately 1.7 to 1.8 billion nuts consumed domestically, there’s a surplus of about half a billion nuts available for industrial use.

Industry professionals have said that by improving efficiency, boosting productivity, and expanding cultivation, the tropical island nation could potentially increase coconut production by up to half a million or at least 250,000 nuts, leading to more foreign exchange earnings.

Sri Lanka’s full potential in the global coconut industry remains largely untapped, Randeewa Malalasooriya, Chief Executive and Director of CBL Natural Foods Cluster, told Economynext.

Earlier this year, Amaraweera warned cultivators to protect crops from the prevailing El Nino weather condition.

Sri Lanka’s average coconut prices rose 0.79 percent to 69,225 per 1,000 nuts at an auction on March 21, data from the Coconut Development Authority shows.

According to the Sri Lanka Export Development Board, coconut and coconut related products made up 6.11 percent of the country’s total exports, which showed a slight increase from the 6.4 percent in 2022. (Colombo/Mar26/2024)

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Water levels rising in Sri Lanka Kalu, Nilwala river basins: Irrigation Department

Sri Lanka Navy assisting in rescue operations (Pic courtesy SL Navy)

ECONOMYNEXT – Sri Lanka’s Irrigation Department has issued warnings that water levels in the Kalu and Nilwala river basins are rising and major flooding is possible due to the continuous rain. People living in close proximity are advised to take precautions.

“There is a high possibility of slowly increasing prevailing flood lowline areas of Kiriella, Millaniya, Ingiriya, Horana, Dodangoda, Bulathsinhala, Palinda Nuwara and Madurawala D/S divisions of Ratnapura and Kalutara Districts, up to next 48 hours,” it said issuing a warning.

“In addition, flood situation prevailing at upstream lowline areas of Ratnapura district will further be prevailing with a slight decrease.

“The residents and vehicle drivers running through those area are requested to pay high attention in this regard.

“Disaster Management Authorities are requested to take adequate precautions in this regard.”

The island is in the midst of south western monsoon.

DMC reported that 11,864 people belonging to 3,727 families have been affected due to the weather in Rathnapura, Kegalle, Kilinochchi, Jaffna, Mullaitivu, Kalutara, Gampaha, Colombo, Galle, Matara, Hambantota, Puttalam, Kurunegala, Kandy, Nuwara Eliya, Anuradhapura, Polonnaruwa, Badulla, Moneragala, and Trincomalee districts.

Meanwhile, the Meteorology Department stated that showers are expected on most parts of the island today.(Colombo/June3/2024)

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UNP gen secy defends call for postponing Sri Lanka poll, claims opposition silent

The UNP party headquarters in Pitakotte/EconomyNext

ECONOMYNEXT — United National Party (UNP) General Secretary Palitha Range Bandara has defended his call for postponing Sri Lanka’s presidential election by two years, claiming that his proposal was not undemocratic nor unconstitutional.

Speaking to reporters at the UNP headquarters Monday June 03 morning, Bandara also claimed that neither opposition leader Sajith Premadasa nor National People’s Power (NPP) leader Anura Kumara Dissanayake have spoken against his proposal.

“I have made no statement that’s undemocratic. My statement was in line with provisions of the constitution,” the former UNP parliamentarian said.

He quoted Section 86 of Chapter XIII of the constitution which says: “The President may, subject to the provisions of Article 85, submit to the People by Referendum any matter which in the opinion of the President is of national importance.”

Sections 87.1, 87.2 also elaborates on the matter and describes the parliament’s role, said Bandara.

“I spoke of a referendum and parliament’s duty. Neither of this is antidemocratic or unconstitutional. As per the constitution, priority should be given to ensuring people’s right to life,” he said.

“Some parties may be against what I proposed. They may criticse me. But what I ask them is to come to one position as political parties and make a statement on whether they’re ready to continue the ongoing economic programme,” he added.

Bandara claimed that, though thee has been much criticism of his proposal for a postponement of the presidential election, President Wickremesinghe’s rivals Premadasa and Dissanayake have yet to remark on the matter.

“I suggested that [Premadasa] make this proposal in parliament and for [Dissanayake] to second it. But I don’t see that either Premadasa nor Dissanayake is opposed to it. To date, I have not seen nor heard either of them utter a word against this. I believe they have no objection to my proposal which was made for the betterment of the country,” he said. (Colombo/Jun03/2024)

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300 of 100,000 trees in Colombo considered high risk: state minister

ECONOMYNEXT – Trees in Sri Lanka’s capital Colombo are being monitored by the municipal council, Army and Civil Defense Force as the severe weather conditions continue, State Minister for Defense Premitha Bandara Tennakoon said.

“Within the Colombo Municipal Council city limits, there are 100,000 trees. Of these, around 300 are considered high risk,” Tennakoon told reporters at a media conference to raise awareness about the current disaster management situation.

Not all trees required to be cut down he said. “We can trim some of the branches and retain them.”

The problem was that buildings in the vicinity of the tree had cut branches on one side, causing it to become unbalanced, the minister said.

New laws would be brought in so provincial/municipal institutions could strengthen enforcement of building codes.

“We don’t have a single institution that can issue a warning about a tree. Not one to tell us what trees can or cannot be planted near a road.

“Trees should be suitable for the area. Some trees have roots that spread and damage roads, buildings. When the roots can’t go deep, they tend to topple over.

“Now Environment Day is coming up, and anyone can go plant a tree by the road. We have to take a decision about this. We have to enforce laws strongly in future.” (Colombo/June3/2024)

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