DAVAO

Buying price of copra hits P23 per kilogram

THE Philippine Coconut Authority (PCA) in Davao noted a gradual increase in the buying price of copra since January 2019.

In a phone interview with SunStar Davao, PCA-Davao coconut production and regulation officer Arnel R. Cabillan said the highest farm gate price of copra was in Davao City at P23 per kilogram (kg), followed by Davao del Norte at P20 per kg, Compostela Valley Province at P17.50 per kg, and Davao Oriental for P16.10 per kg, which has the lowest price as of December 3.

He said the miller's highest buying price of copra is at P23 per kg.

"Siguro, bumaba po yung inventory of vegetable oil, particularly the palm oil sa international market (Maybe because the inventory of the vegetable oil, particularly the palm oil, in the international market had slowed down)," he said, referring to the cause of copra prices' upward trend.

Palm oil remained to be the top vegetable oil widely traded in the world market, which is produced mainly by Indonesia and Malaysia.

Cabillan said palm oil could be in a "resting phase."


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