June production for one of Solomon Islands main export commodities, copra has plunged by 33 percent.
According to the Solomon Star newspaper, the Central Bank in its monthly economic bulletin says copra production in June as proxied by export copra volume plunged 33.6% in May to 1,519 tons.
In May, the copra production grew significantly to 2,286 metric tons.
In April, the production was at 1,023 metric tons.
The paper quotes the bank saying the sharp decline was caused by low international prices since the beginning of the year and bad weather conditions.
The average contracted export price for copra during the month remained at 318 US dollars per ton while the contracted domestic price saw a 22.9% rise to $2.15 per kilogram from $1.75 per kilogram.
International average price of copra, on the other hand, dropped 14% to 480 US dollars per ton, reversing the rise seen in the preceding month.
