Coconut prices skyrocketed as a result of a severe shortage.

The Coconut Research Institute says coconut prices skyrocketed as a result of a severe fertiliser shortage.

The Coconut Research Institute (CRI) says coconut prices in Sri Lanka have skyrocketed as a result of a severe fertiliser shortage impacting coconut plantations.

CRI said although the ongoing southwestern monsoon season had exacerbated supply issues, the root cause lay in the prolonged lack of essential nutrients for the crops.

Our correspondents said  prices have also risen sharply at the Dambulla market, reflecting limited supply from key coconut-producing regions.

CRI Deputy Director Sarath Idirisinghe said that the fertiliser crisis, began in 2021, had left plantations without the required fertiliser for four years.

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