Coconut export earnings hit a record Rs111 billion in the September quarter of 2025, up 58% from a year earlier, according to investment bank Capital Alliance (CAL), helping increase revenue across related businesses.
These earnings cover all coconut-based exports, including kernel products like coconut oil, coconut milk and cream, and non-kernel products like husks, shells, sap, water, coir based goods, activated carbon, coconut sugar, and bottled coconut water. CAL says the rise was driven by stronger demand from China, which has pushed up coconut prices across the region.
Companies Gaining From the Coconut Boom
CAL notes the surge in coconut exports is already lifting earnings for several listed companies, producing kernel, coir and activated-carbon products.
In kernel products, CAL highlights Renuka Agri Foods (RAL), Renuka Holdings (RHL) and Coco Lanka as key beneficiaries.
In coir, CAL points to Hayleys Fibre (HEXP), which manufactures coir-based products. It notes a lag between export growth and revenue recognition, suggesting the lift from stronger coir shipments is more likely to show up in the company’s reported numbers in the December quarter of 2025.
In activated carbon, CAL highlights Haycarb (HAYC), whose topline is closely tied to export demand. Haycarb accounts for more than 15% of global activated carbon sales by volume. CAL forecasts Haycarb’s revenue in December of 2025, including overseas operations, will rise by 38% from the previous year.