The Government Economic Stimulus Package has boosted the copra industry since the implementation of the initiative in 2020.
This is according to Company Recruiter of Solomon Islands Commodities Private Limited, Dilip Kumar Acharya.
Mr. Acharya who works for the private copra exporter reveals that since the country went through the COVID-19 pandemic, the supplies of copra that the company bought from local buyers have decreased from 2019 but gradually increase in 2020 and consistently grow in the first quarter in 2021.
He stated that whilst price per kilo often changes, the ESP support disbursed to local farmers and buyers of copra around the country has boosted them to continue to, improve their economic activities, and eventually increase supplies to exporters.
Furthermore, CBSI’s April, 2021 Economic Development report revealed a 1 per cent improvement in production index. This is due to a consistent growth in fish and copra production. According to the same report, copra production increases by 6 % compare to the same period in 2020.
The Ministry of Finance and Treasury currently release the final support to all copra farmers and buyers.
Meanwhile, monitoring and evaluation of ESP support projects is currently ongoing. The Committee expect to commence the deployment of youths to the selected provinces in June for the monitoring and evaluation of program.
The Government through the ESP Committee is fully committed to the accountable implementation of the ESP in the interest of wellbeing of the people, national stability and economic empowerment.