🥥 Sri Lanka Launches National Initiative to Tap US$ 10 Bn Global King Coconut Market

• Project Targets & Expansion: The Govt. launched the “Ceylon King Coconut Village” initiative to establish 250 dedicated villages islandwide by 2028 (75 in 2026, 80 in 2027, and 95 in 2028) to boost production, processing, and export scale. • Global Market Opportunity: The global king coconut products market—currently valued at US$ 4–5 Bn—is projected to nearly double to US$ 10 Bn over the next decade. Sri Lanka aims to capture a major market share through organized commercial production. • Economic & Rural Impact: The project aims to reduce rural poverty, uplift household incomes, and generate employment across the value chain (cultivation, processing, packaging, and logistics). • Macro Context: The coconut sector initiative is designed to boost export revenue and narrow Sri Lanka's trade deficit, following merchandise exports of ~US$ 14 Bn, services/IT/tourism earnings of ~US$ 7 Bn, and imports of ~US$ 22 Bn last year.