The newly revived Samoa Coconut Society is planning to import coconut oil mills from India to produce cold pressed coconut oil for export.
The society intends to set up one mill in Savaii and the other on Upolu island.
The mills can process up to 3-point-6 tonnes of oil in a 24 hour day.
After its first meeting last week, the society said it would offer 20-22 sene or less than 1 US cent per nut as an initial price to get the mills operational.
It was also decided that the Society would issue 2-point-6 million shares to members at one tala or 36 US cents per share, to finance the mills.