Coconut and coconut based products plays a vital role in the countries foreign exchange earning. A total of 394836 Hectares was under coconut cultivation which has substantially reduced in the recent years.
Srilankan Coir producers are facing one of their worst seasons in history due to weak prices on global markets, lower production and declining profitability.
Srilankan coir is comparatively expensive than of the Indian Coir. If present market conditions continue srilankan coir is going to be more expensive and will fail to retain its market share.
Many of the Srilanka exporters of coir have already set up their procurement centres in Indian to procure and supply to their international customers.
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