by Aarti S Khale (Id by John Dransfield) (Inserted by J.M.Garg) (For more images & complete details,
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Oenocarpus bacaba is an economically important monoecious fruiting palm native to South America and the Amazon Rainforest, which has edible fruits. This plant is cited in Flora Brasiliensis by Carl Friedrich Philipp von Martius. It can reach up to 20–25 metres tall and 15–25 cm in diameter. It grows in well-drained sandy soils of the Amazon basin.[1] 

Bacaba produces more fruits than any other palm in central Amazonia, averaging around 2500 per bunch. Bunches usually weigh about 3–4 kg, but can weigh up to 10 kg. The fruit is a drupe weighing up to 3.0 grams.  
Propagation is by seeds that germinate in 60–120 days, with slow growth. Production begins when the tree is 3–4 meters high, after about 6 years.The fruits has a rounded dark red to purple shell and creamy white flesh, rich in oil of a pale yellow color. Bacaba fruit are cooked to prepare a juice which is much sought after by local people,[2] though generally less popular than açaí. Bacaba fruit is agreeable and its flavor is reminiscent of avocado.
The fruits are rich in natural phenols, especially in flavonoids and their red color is due to cyanidin hexosides.[3]

(From Wikipedia on 9.9.14)

Seen at the Royal Botanic Gardens, Peradeniya, Sri Lanka in Nov, 2010.

Pinanga caesia suggested by …
Kindly validate.

This is definitely not Sealing Wax Palm as suggested by …

This has been identified by … as Oenocarpus bacaba.

Palm tree for ID : 170111 : AK-3:

Taken at the Royal Botanic Gardens, Peradeniya, Sri Lanka on the 17th of November,2010.

It looks like Pinanga caesia Bl.

Can be Pinanga caesia

In Cyrtostachys renda the stems are red. Hence, the possibility of C.renda may be ruled out..

Oenocarpus bacaba as per another recent thread.