The fluctuation of domestic copra price is cyclical and this is beyond the control of the PCA or any government agency. This is so because the domestic copra price is dependent to the coconut oil price in the global market. The global coconut oil price on the other hand is determined or affected by the supply and demand situation of other vegetable oils (e.g. oil palm, soybean, rapeseed, sunflower, olive oil, etc.) Though the Philippines is the biggest exporter of coconut oil in the world, coconut oil is just one of the many vegetable oils produced in the world. As such, its price is greatly affected by the movement of prices of other vegetable oils particularly the palm oil which is the biggest among the internationally traded vegetable oils (35%), and soybean oil, the second biggest vegetable oil (29%).
Date of occurrence: Urduja -- December 14, 2017 and Vinta -- December 22, 2017
Tropical storm Urduja inflicted damages to coconut when it barreled through Regions IV-A, VI, VIII and XIII. It made landfall six (6) times before exiting PAR. Damage to coconuts ranges from Moderate to Total in some areas. A total of 965,026 bearing coconut trees involving some 9,650 hectares and affecting about 9,600 coconut farmers have been damaged, majority of which are in Region VIII, particularly Northern Samar. Biliran and Leyte Provinces. The total estimated cost of damage to coconut is estimated at Php 36,125,559.00, more or less.
Davao City — Newly appointed Philippine Coconut Authority (PCA) administrator Romulo J. dela Rosa clarified that his agency has already made a full accounting of the P2.45 billion under the Yolanda Recovery and Rehabilitation Program (YRRP), after the Commission on Audit (COA) called out the agency for failing to properly account for the rehabilitation funds.