10 Jun 2013

Vanuatu minister warns copra buyers to observe standard price

1:47 pm on 10 June 2013

Vanuatu's tourism and commerce minister has warned copra buyers to maintain the standard price of copra.

Marcellino Pipite has directed the Vanuatu Commodities Marketing Board to give three months notice to copra buyers who export to meet the new minimum price of 30,000 vatu, or about 315 US dollars, per ton of copra.

The minister says for many years, exporters have ignored government instructions over copra prices.

He has indicated that those who fail to comply will find it difficult to have their licences renewed, and says it is important to set a stable price for copra throughout the country.

"We have already achieved a standard of copra to export. We want to upgrade this product also. Copra is one of our first resources after we gained independence. You have copra everywhere in the country."

Marcellino Pipite