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Sri Lanka Equity Forum » Stock Market Talk » Coconut output in SL falls 42% yoy in Jan-Feb 2011

Coconut output in SL falls 42% yoy in Jan-Feb 2011

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cse.alpha


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Coconut production in Sri Lanka has fallen 42% yoy to 239 million nuts during Jan-Feb 2011.

Source - Central Bank of Sri Lanka Weekly Econ Indicators 21/4/2011

http://www.cbsl.gov.lk/pics_n_docs/_cei/_docs/ei/wei_20110421.pdf

After a dip in 2010 coconut production too, this is not good news for Haycarb (HAYC) and Renuka Agri (RAL), both of whom use coconuts and add value to export. Some costs however can be passed on to end customers, but will it be sufficient to ensure bottom line growth? HAYC at least has other production facilities in South East Asia too.

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@cse.alpha wrote:Coconut production in Sri Lanka has fallen 42% yoy to 239 million nuts during Jan-Feb 2011.

Source - Central Bank of Sri Lanka Weekly Econ Indicators 21/4/2011

http://www.cbsl.gov.lk/pics_n_docs/_cei/_docs/ei/wei_20110421.pdf

After a dip in 2010 coconut production too, this is not good news for Haycarb (HAYC) and Renuka Agri (RAL), both of whom use coconuts and add value to export. Some costs however can be passed on to end customers, but will it be sufficient to ensure bottom line growth? HAYC at least has other production facilities in South East Asia too.

Ah...It took nearly a year to average my HAYC shares Sad

Even though demand for activated carbon is increased they have been struggling to find coconut shell charcol for reasonable prices in Sri Lanka. This has been an ongoing issue & latest CBSL result is a very disappointing one for them. But they are steadily increasing the use of import charcoal since 2007.

I do not think they will increase level of capacity in Sri Lanka any further and will focus on Indonesia & Thailand. Perhaps explore the possibilities in India.

It will be interesting to see how their water purification solutions break into Global & domestic market. According to HAYC Q3 results this sector is start making profits.

But I'm expecting a poor Q4 results & hopefully they will bounce back soon

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