Philippines

Copra up P20/kg amid low demand

Copra up P20/kg amid low demand
By Christine Cudis

MANILA (Philippines News Agency) — The Department of Agriculture (DA) has made a deal with the government-owned oil management group to increase copra’s mill gate buying price to PHP20 per kilo.

Coconut Industry Investment Fund (CIIF) president Lino Trinidad announced this during the consultation with the DA and coconut farmers and stakeholders in Quezon City last Tuesday.

Though good news, the increase is still PHP5 short of the earlier demanded price by Agriculture Secretary Manny Piñol.

“Trinidad said it is the best they could offer given the very low market prices of coconut oil in the world market,” Piñol said in his Facebook post.

During the same consultation, the DA announced that it is ready to extend loans to organized coconut farmers’ group, which they could use in buying the products of their members and trucks to haul the copra to the oil mills.

This, as the farmers raised that the high transport cost and the distance between the farms and the oils mill discouraged them from selling directly to the mills.

The DA also offered a maximum of PHP50,000 loan under the Production Loan Easy Access for coconut farmers to be used in starting livelihood activities to keep them afloat while the buying price of copra is low.

Piñol directed the Philippine Coconut Authority to identify and validate all coconut farmers associations and cooperatives to facilitate the granting of the loans. (PNA)

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