December last year produced the most copra of 2017, the first month of a two-and-a-half-month period during which the price of copra was at an all time high of 50¢ per pound.
Copra makers in RMI generated 764.12 tons in December, the highest total since December 2016, when over 1,000 tons were generated.
The quarterly total of 1,718 tons was the highest since 2016, but well down from the 2,457.96 tons produced in the April-June 2016 period when the price was lower. Shipping service is usually the key determining factor in copra “production” as production is counted according to what is delivered for processing at Tobolar’s plant in Majuro.
Arno copra makers took the most advantage of the price increase by producing 105.79 tons in December to lead all islands and get out to a big jump for the new fiscal year. After the first quarter, Arno leads all copra makers with 329.03 tons, Mili is second with 175.52 tons and Namu is third with 158.22. Others in the top five are Maloelap (126.38 tons) and Wotje (110.73 tons).
Ailinglaplap, which was the copra leader for FY2017 with 1002.76 tons, was in sixth place with 95.58 tons the first three months of FY2018.
The 50¢ per pound price for copra is set to expire February 15.
Read more about this in the February 9, 2018 edition of the Marshall Islands Journal.