Coconut prices in Sri Lanka have skyrocketed as a result of a severe fertiliser shortage impacting coconut plantations, according to the Coconut Research Institute (CRI). 

It noted that the ongoing southwestern monsoon season had exacerbated supply issues, but the root cause lay in the prolonged lack of essential nutrients for the crops.

According to recent data from the Central Bank of Sri Lanka (CBSL), wholesale coconut prices have surged to Rs. 130 per nut in Pettah, with retail prices climbing to Rs. 170. 

Prices have also risen sharply at the Dambulla market, reflecting limited supply from key coconut-producing regions.

CRI Deputy Director Sarath Idirisinghe told The Sunday Morning that the fertiliser crisis, which began in 2021, had left plantations without the required fertiliser for four years. 

“This has made plantations more susceptible to adverse weather conditions and pest attacks,” he explained.

In addition to the fertiliser crisis, the El Niño phenomenon, which brought reduced rainfall and increased heat stress from February to April, has further hindered coconut harvesting. 

CRI stated that consumer demand now far outstripped supply, leading to significant price increases.

In response to the crisis, the CRI is exploring initiatives such as a development fund and fertiliser subsidies for plantations and emphasising the need for increased cultivation efforts.