NextGen Day

The Philippine Coconut Industry (PCA) is hopeful that during the “ber” months, the price of oil made from copra will increase.

On Monday, Roel Rosales, the deputy administrator, predicted that the demand for the good would rise starting in September.

Throughout a news conference at the PCA main office in Quezon City for the week-long celebration of the agency’s 50th anniversary, he stated, “We anticipate that the oil demand will increase during the “ber” months.”

According to the PCA official, the current low demand for oil on the global market results from several issues, including the ongoing conflict between the United States and Russia and the pandemic-related slowdown in China’s economy.

“Prices are dictated by international markets, dictated by the events that transpired in the global arena,” he continued.

According to Rosales, the price of oil varies depending on where it is sourced, ranging from PHP21 to PHP24 at the farm gate to PHP27 to PHP30 at the mill gate.

However, PCA administrator Bernie Cruz stated they are requesting a PHP11 billion budget to carry out the organization’s initiatives to enhance the sector further.

“The 11 billion PHP represents a reinvestment. We can recover it. He declared that we’d work with the farmers to increase their profits and quality of life.

Cruz claimed that, aside from Indonesia and India, the nation consistently ranks among the top three copra producers.

He pointed out that they are pushing farmers to adopt new technologies and to grow more trees.

Cruz said that 60 other things may be made from coconut besides Copra.

The fact that we can make the most of this tree is why it is known as the “tree of life,” he continued.

The PCA was established in 1973 by Presidential Decree No. 232 to achieve vertical integration of the coconut industry so that coconut farmers can participate in and benefit from the development and growth of the coconut industry, accelerating the development of the coconut and other palm oils industry in all of its aspects, and providing general guidelines for the steady and orderly development of the industry.

On June 30, the agency will commemorate 50 years of operation.

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

Need to get in touch?

Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. Simple Ways To Say Thanks & Support Us:
1.) GIVE A TIP. Send a small donation thru Paypal
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---