Sri Lanka, May 27 -- As per the Coconut Cultivation Board. The main reason for the sustained high coconut prices in the local market has been identified as the pricing practices of intermediaries at government coconut auctions.

In a recent discussion with senior government officials, this issue was brought to light, by Dr. Sunimal Jayakody, Chairman of the Coconut Cultivation Board.

Although coconuts from government-owned plantations are auctioned at minimum prices, intermediaries buy these stocks and sell them in the market at much higher rates, securing substantial profits. Dr. Jayakody pointed out that this practice results in unfair disadvantages for both coconut cultivators and consumers.

He further pointed out that although ther...