PCA seeks additional funds to hike copra output

MANILA, Philippines - The country's coconut industry is up for a big rebound once the national government releases the additional P1.89 billion required to increase copra output by 270,000 metric tons next year, said Administrator Oscar Garin of the Philippine Coconut Authority. Garin said the PCA has embarked on a four-year production program to recover lost production due to calamities and secure supply needs for domestic and international markets. Garin said that with the additional fund the production of 270,000 MT of copra will be realized in 2009, followed by 3.070 million in 2010 and 3.540 MT yearly until 2012. The PCA administrator said production plan involves 1.35 million hectares with a yearly increment of 25 percent equivalent to 200 kilograms of additional copra per hectare. The value of copra output will average at P25,000 per MT a year or a total of P6.75 billion. Garin said the program will hopefully generate an additional 1.35 million jobs. The Arroyo administration has agreed to download P1B for the program. Under the program, no fund is directly remitted to PCA. All disbursements like the cost of fertilizer will be paid by the funding agency. Garin made the clarification to allay fears that his agency would spend for the entire program. - GMANews.TV