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ECONOMYNEXT – Sri Lanka will shortly issue an order by gazette notice banning cultivation of oil palm giving effect to a decision by the administration, Cabinet spokesman Minister Ramesh Pathirana, said.
He said seeds imported to the country in 2017 would not be allowed to be planted.
No seeds will also be allowed he said.
Sri Lanka had raised import taxes on coconut and vegetable to give high profits to coconut plantation owners making it excessively profitable to plant palm oil.
Several plantation firms shifted rubber, an export crop to palm give, due to high import substitution profits available.
As a result, the objective of the coconut lobby may not have been fully met.
Then some group launched protests claiming that palm oil is environmentally damaging and affects the water table. (Colombo/Mar30/2021)
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