Copra trading price in E. Visayas hikes-A A +A
Thursday, July 18, 2013
THE Philippine Coconut Authority (PCA) said the copra trading in Eastern Visayas region picked up this month after more than a year of consistent decline.
The farm gate price increased to P15 per kilogram this month from a nine-year record low of P11.54, reported in April 2013.
The biggest jump was noted in June at P15.04 per kilogram from P12.77 in May. The lowest value of copra recorded in nearly a decade was in April 2013, while the highest was in February 2011 at P42.54.
PCA Regional Manager Edilberto Nierva said price will rebound starting this month but it may take few months before reaching the first quarter of 2012 level of P23 to P26 per kilogram.
He said an expected demand of coconut oil in the world market could spark price rise in the region.
The president of Tacloban Filipino Chinese Chamber of Commerce and Industry, Go Tic Ching, also said the copra price rebound is a good news not only to farmers but to local businesses as well.
“There is a chain reaction. We expect a stronger buying power of consumers since majority of the region’s population is dependent on coconut production,” Ching said.
Violeto Cabañero, a 59-year old coconut farmer of Barangay Dinaayan in Burauen, Leyte, expressed his positive reaction, saying the increase will help him send his children back to school.
“I’ve been producing copra for 40 years and this is the toughest year for us. Two of my four school-aged children quit secondary education because my income has dramatically dropped. We are hoping that the price will continue to increase,” Cabañero said.
From a gross income of P20, 000 in February 2011, his family’s earning slide down to P4,000 early this year.
Cabañero said many people in their village suffered debts due to the decline of coconut oil demand during the previous months.
Eastern Visayas has 368,524 coconut farmers with families dependent in coconut farming. The region is the country’s second largest coconut producing community. (Leyte Samar Daily Express)