Let’s continue from where we left in the previous blog. Coconut oil is loaded with a lot of therapeutic values as indicated by trusted medical reports and studies. Amongst vegetable oils, only lauric oils and palm kernel oil (PKO) are lauric oils consisting of monolaurin that is regarded as very healthy. What consumers buy in the market is often dictated by price. The market for CNO can take a dent if its price goes even a notch higher than that of PKO.
It is recommended that producers and processors of high-value coconut-based products share their profits with the raw material suppliers. This would serve as an impetus for cultivators to replant senile palm, and enhance their farm management practices and stay industry-competitive in the long run.
There are a lot of constraints faced in the domestic sector including the declining rate of production and productivity big time which is often attributed to fluctuating prices. This can eventually slow down investments, lead to low availability of quality labor, rising wages (as a result), small and patchy land holdings and shortage in the availability of quality planting materials.
However, there are ways to tackle these challenges such as the expansion and stabilization of area under coconut brought about by quality planting substance, rejuvenation and replanting of present coconut gardens by cutting and shredding old palms and rejuvenation of current farm areas and replanting them with seedlings.
The annual production of coconut in our country is 23,798.29 million nuts grown on an area of 2.10 million hectares across 16 States and 4 Union Territories. The contribution of the coconut sector to the overall GDP is $3,568 million, whilst the export earning is calculated as 686.58 million, which is about 0.21 percent of overall export earnings.