Sri Lanka's coconut prices continue their decline at the auction.

The average price for coconuts in Sri Lanka dropped to 62,948 per 1,000 nuts at the latest auction held on May 02, 2024, compared to 63,231 the previous week, according to data from the Coconut Development Authority.

The highest bid reached 73,000 rupees for 1,000 nuts, up from 72,200 rupees a week earlier, while the lowest bid decreased from 52,000 to 60,000.

The average coconut price at the auction has decreased by 17 percent since the last auction in December.

A total of 873,957 coconuts were presented at the auction, with only 559,639 nuts being sold.

Wholesale prices ranged from 95 to 110 rupees for large coconuts and 85 to 90 rupees for small ones in the week ending April 17, 2024.

In Kurunegala, farmgate prices were reported at 72,000 to 75,000 per 1,000 nuts.

The price of coconut oil ranged from 570,000 to 610,000 rupees per metric ton.

Coconut shells were sold at 32,000 to 34,000 rupees per metric ton.