STATNews
21 April 2009  

Copra prices down by 20%in Q1 2009

            The average farmgate price of copra in Eastern Visayas dropped significantly by 20%, from P16.53 per kilogram during the fourth quarter of 2008 to P13.23 in the first quarter of 2009.  This is attributed to the decreasing demand for copra in the world market and the global economic crisis.

Table 1.  AVERAGE FARMGATE PRICES OF COPRA BY PROVINCE
Region VIII: 4th Quarter 2008 and 1st Quarter 2009

                                Source: Philippine Coconut Authority

            All provinces experienced decline in prices, with Eastern Samar posting the highest drop at 27.16%, from P14.10 per kilogram during the fourth quarter of 2008 to P10.27 in the first quarter of 2009.  Moreover, it posted the lowest copra price at P10.27.  The province is the third largest coconut producer in the region. 

            Leyte, the major coconut producing province in the region, recorded a substantial decline in copra prices at 18.93%, from P17.91 to P14.52.  The province, however, posted the highest copra price in the region at P14.52.  Meanwhile, Biliran, the smallest producer of coconut, recorded the lowest drop in copra price at 17.26%, from P17.03 to P14.09.  

            According to the Philippine Coconut Authority (PCA) Regional Office, around 80% of copra products in the region is being exported mainly to recession-hit countries, specifically USA and Japan, while only 20% is being utilized locally.  Coconut is the top crop of the region and Eastern Visayas is one of the top coconut producing regions in the country. 

Faced with this situation, the PCA is encouraging our coconut growers in the region, which comprise a large proportion of our farmers, to practice diversified farming.

EVANGELINE M. PARAN (Sgd.)
Regional Head 

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