Jaffna, Mullaitivu and Mannar districts form Sri Lanka’s second Coconut Triangle
September 2, 2023 10:17 pm
Jaffna, Mullaitivu and Mannar included to form Sri Lanka’s second Coconut Triangle
Sri Lanka’s second Coconut Triangle was launched in the Northern Province on Saturday (02 Sep.), in view of World Coconut Day.
Accordingly, the Jaffna, Mannar and Mullaitivu districts formed the country’s second Coconut Triangle, which was officially launched at a ceremony held at the Palai Coconut Model Garden in Jaffna.
Sri Lanka’s coconut export revenue has significantly increased in recent years.
Owing to the wide range of benefits associated with Sri Lankan coconuts, an evident increase in demand has been observed, thus, this year, it is anticipated that exports of coconut-based goods will bring in a total of USD 700 million.
Meanwhile, it is anticipated that exports of goods related to coconuts would generate a revenue of USD 2 billion over the next ten years.
The move to develop a second Coconut Triangle was fueled by the fact that local consumption accounts for two thirds of coconut production., while only one third is used for export.
Thus, in order to increase export potential, this situation needs to be altered, which initially prompted the development of the novel Coconut Triangle.
