Philippines: High copra prices to boost the income of Eastern Visayas families

Published 2021년 6월 2일

Tridge summary

The Philippine Coconut Authority (PCA) is optimistic that higher copra prices will be sustained until the end of the year, which will enhance the income of approximately 400,000 families in Eastern Visayas. The average farm gate price of copra, a by-product of coconut, increased to PHP30 per kilogram in May from PHP17.68 the previous year, driven by increased demand for coconut from a Sorsogon-based processor, Peter Paul Philippine Corp. The rising global demand for coconut oil, owing to its nutritional benefits, also contributes to the higher copra prices.

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Original content

PALO, Leyte – The Philippine Coconut Authority (PCA) is upbeat that higher copra prices will prevail until the end of this year, improving the income of nearly 400,000 families in the Eastern Visayas region. Average farm gate price of copra, a major by-product of coconut, rose to PHP30 per kilogram in May from PHP17.68 in the same period last year, according to PCA’s price watch data. The current copra trading price is way better than the PHP11.36 per kilogram recorded two years ago. PCA regional manager Joel Pilapil said the high demand for coconut from a Sorsogon-based processor has helped in increasing the price of copra, a raw material for the production of premium oils overseas. “In many parts of Leyte and Southern Leyte, the whole nut buying has been established especially in farms within the national road. Many farmers don’t process coconut into copra anymore, thus, reducing the volume of copra,” Pilapil said in an interview last week. The region’s major buyer of whole nuts ...

Source: Pna