DA to meet with stakeholders to address falling copra prices

The Department of Agriculture (DA) is set to meet with coconut stakeholders to address the falling copra prices as well as the other issues faced by the struggling coconut sector.

Agriculture Secretary Emmanuel Piñol said he directed DA Undersecretary for Policy and Planning Segfredo Serrano to direct the Philippine Coconut Authority (PCA) to invite the country’s copra trading companies and coconut oil mills to a consultation in the first week of November.

The meeting is intended to identify immediate measures which could be adopted to address the very low price of copra, said Piñol.

From a high of over P40 per kilo a few years back, copra prices have plummeted to as low as P15 per kilo at present.

“During the meeting, I will discuss with the coconut mill owners the reports of smuggling of copra into the Southern Philippines, including the smuggling of palm oil which resulted in the slump of prices of both coconut and palm oil,” Piñol said.

Other programs like buying good quality seed nuts of outstanding varieties for the coconut replanting program and livelihood projects for coconut farmers and workers to tide them over during these difficult times will also be discussed.

“The coconut industry is virtually in the throes of death with the price of copra in the world market falling to very low levels where coconut farmers could barely survive, a dangerous situation for a sector where poverty incidence is one of the highest,” Piñol said.

PCA was just recently returned to the supervision of DA together with the National Food Authority (NFA) and the Fertilizer and Pesticides Authority FPA).

During the last PCA board meeting, Piñol directed the PCA to allocate 110 million for the crafting of a Coconut Industry Development Road Map to chart the directions for the revival of one of the biggest export earning industries of the country.