The price of coconut oil has surged by approximately Rs.150 per bottle in the market. The All-Ceylon Traditional Coconut Oil Manufacturers’ Association attributes this increase to importers holding back their stocks in anticipation of higher demand during the upcoming festive season.

Buddhika de Silva, the Convener of the association, accused importers of arbitrarily raising prices and warned that the cost per bottle could escalate to Rs.1,000. He criticized the government's lack of intervention, highlighting that neither the Ministry of Finance nor the Ministry of Plantation Industry have imposed necessary regulations or taxes on coconut oil. Additionally, the Coconut Development Authority has not taken any steps to address the issue.

Buddhism De Silva called on the government to facilitate the importation of essential raw materials for local industrialists to help reduce coconut oil prices.