The daily copra price watch system is now benchmarked to help ensure fair abaca pricing in the country, the Philippine Coconut Authority (PCA) reported on Thursday.
The Philippine Fiber Industry Development Authority (PhilFIDA) initiated the move to address long-standing concerns about the growing disparity between the farmgate and the selling prices of abaca.
In a statement, PCA Administrator Dexter Buted expressed support for data-driven monitoring of abaca prices.
“This is a step toward a more equitable pricing environment, farmer empowerment, and integrated fiber and coconut industry growth,” he said.
The PCA’s copra price monitoring system, managed by its Trade and Market Development Department, provides daily comparative data on domestic copra prices per kilogram at both millgate and farmgate levels.
The system also tracks price variations by day, week, month, and region, and includes information on the value of coconut products in local and international markets.
Besides the adoption of the price watch system, the PCA and PhilFIDA also discussed a proposed partnership for abaca-coconut intercropping.
It also covered the proposed comparative income study between abaca monocropping and abaca-coconut intercrop systems.
As a potential support for farmers who will be trying on mixed-crop systems, funding options were also discussed through the Department of Agriculture’s High Value Crops Development Program (DA-HVCDP). (PNA)