The Philippine Coconut Authority (PCA) believes that coconut farmers in the Eastern Visayas region will benefit from the current high farmgate prices of copra.
The average farm gate prices of copra, a major by-product of coconut, rose to P52.10 per kilogram as of January 30 from P22.16 in the same period last year, according to PCA’s price watch data.
The current copra trading price is also way better than the P20.17 per kilogram recorded two years ago.
PCA - Eastern Visayas Regional Manager Joel Pilapil said their main office has yet to release the analysis on increasing copra prices, but this could be attributed to the rising demand of coconut oil in the global market as more consumers realize the nutritional value of the coco-based oil.
“This is good news as this will ensure higher income for our coconut farmers and their families. This will also encourage our whole nut buyers to get more produce from farmers," Pilapil told media.
Traditionally, whole nut buying also increases if copra trading prices go up.
Currently, the prevailing price of whole nut in Leyte province is PHP12 to PHP15 per piece.
Processing a kilogram of copra requires at least three to four pieces of coconut.
Copra is the dried meat or kernel of the coconut, from which premium oil is extracted. It also yields coconut cake after oil extraction, which is mainly used as feed for livestock.
PCA estimated that 1.83 million people or nearly half of the 4.4 million population of the region are dependent on coconuts.
The region is the fifth top coconut-producing region in the country with an average copra production of 320,000 metric tons every year.
(With report from PNA)
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