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NMCRP warns of potential local coconut oil price hike risk
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Addressing a media briefing held in Colombo today (29), NMCRP chairman Ranjith Vithanage stated that the proposed decision carries a high risk of coconut oil being mixed with harmful oils before entering the local market.
He further stressed that a potential increase in the price of locally produced coconut oil could be expected from April 01.
According to medical concerns, he emphasized that doctors recommend coconut oil as the most suitable option for deep-frying, while the use of palm oil and other alternative oils has been linked to increased health risks.
He also pointed out that exporters involved in coconut-based industries are diverting coconuts intended for domestic coconut oil production towards exports, resulting in a shortage of coconut oil in the local market.
According to the NMCRP Chairman, this shortage has compelled consumers to turn towards palm oil and other low-cost oils.