PCA projects copra price rebound
TACLOBAN CITY – The Philippine Coconut Authority (PCA) projected that copra price will make a rebound on July this year after constant price drop since June 2011.
PCA Regional Manager Edilberto Nierva said that it will take about two more months for farmers to wait before enjoying an improving trading price.
“There are signs of economic recovery from foreign trading partners. Our forecast is that by July this year, copra price will go up,” Nierva told Leyte Samar Daily Express..
For this month, the prevailing copra price in provinces is P12 per kilogram. This year, average monthly copra farm gate price steadily declined from P12.96 per kilogram in January to P11.54 in April.
Last month’s trading price in farms was the lowest in nine years, PCA records show. The highest price ever was noted in Feburary 2011 at P42.54.
This year’s farm gate price is pretty close to the P9 per kilogram recorded in April 2003, the lowest price in 10 years.
Farm gate trading price started to drop in June 2011 from P40.45 per kilogram to P36.07. Since then, price has steadily dropped monthly.
Nierva admitted that the price movement in the past 24 months is not normal since price normally increase during the early part of the year.
The demand for copra from European and United States market has slackened resulting to lower copra price. Aside from global price fluctuation, a big chunk of the region’s export April was just Asian countries with lower trading price compared to traditional markets, according to PCA.
The PCA is campaigning among farmers to venture into intercropping to ensure stable income amid trading price drop. The agency is also promoting the use of other byproducts derived from coconut.
Eastern Visayas, the second largest coconut producing region in the country, has average output volume of 1.7 billion nuts from 2009 to 2012. The region has 368,524 coconut farmers. (Sarwell Q. Meniano)
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