The Philippine Coconut Authority is seeking regulatory powers to influence the prices of copra and shield the country's coconut farmers from declining copra prices, according to Philstar Biz.
The proposed regulatory authority would allow the PCA to set a floor price or intervene in the market to stabilize copra prices, which have been volatile in recent months. Coconut farmers, many of whom rely on copra as their primary source of income, have faced financial strain as global commodity prices fluctuate.
The PCA's move comes amid broader efforts by the government to support the coconut industry, which remains a key agricultural sector in the Philippines. The agency is expected to present its proposal to Congress for legislative approval.