How is the Coconut & Coconut-based Products Industry in Sri Lanka Evolved in recent years?

Sri Lanka’s coconut and coconut-based products industry has been an important contributor to the country’s economy for many years. However, in recent years, the industry has undergone significant changes as it adapts to new market trends and consumer preferences. In this article, we will explore how the coconut and coconut-based products industry in Sri Lanka is evolving in recent years.

One of the main changes in the industry is the shift toward the production of value-added products. In the past, the majority of Sri Lanka’s coconut-based exports were raw materials such as fresh coconuts and desiccated coconut. However, in recent years, there has been a growing demand for value-added products such as coconut oil, milk, and flour. As a result, more companies in Sri Lanka are investing in processing facilities to produce these products.

Another change in the industry is the growing focus on organic and fair trade products. Consumers in developed countries are becoming increasingly conscious of the environmental and social impact of the products they buy. As a result, there has been a growing demand for organic and fair trade products, particularly in the European and North American markets. Sri Lanka’s coconut industry is adapting to this trend by promoting organic and fair trade products and obtaining certifications for these products.

The industry is also evolving in terms of technology and innovation. The government of Sri Lanka has initiated various initiatives to promote the use of modern technology and innovation in the coconut industry. For example, the government is providing subsidies for the purchase of modern equipment and promoting the use of precision farming techniques to increase the productivity and quality of the industry.

The industry is also evolving in terms of research and development. The government of Sri Lanka has established the Coconut Research Institute (CRI) to conduct research and development activities to improve the productivity and quality of the coconut industry. The CRI conducts research on various aspects of the industry such as the development of new varieties of coconut, pest management, and post-harvest technology.

Finally, the industry is also evolving in terms of sustainability. The industry is adapting to the global trend of sustainability by promoting sustainable farming practices and reducing the environmental impact of the industry. For example, the government is promoting the use of organic farming methods and promoting the use of renewable energy in the industry.

In conclusion, the coconut and coconut-based products industry in Sri Lanka is evolving in recent years to adapt to new market trends and consumer preferences. The industry is shifting towards the production of value-added products, focusing on organic and fair trade products, adapting to technology and innovation, research and development, and sustainability. These changes will help the industry to grow and become more competitive in the global market.

Notes:

• The industry is shifting towards the production of value-added products
• The industry is focusing on organic and fair trade products
• The industry is adapting to technology and innovation, research and development, and sustainability.
• These changes will help the industry to grow and become more competitive in the global market.