8 02 2014

By Alex Munme

PRESTINE 101 Copra Mill is now preparing to export its first shipment of crude oil to Asia and Europe.

The Copra Mill’s Consultant, Joseph Watawi said this on New Dawn FM Top Show this morning in Buka, Autonomous Region of Bougainville.

Mr. Watawi said since coming into full operation on December 19, 2013, 10 containers weighing 20 metric tones each and totaling upto about 200 Metric tones of Crude Oil has been produced and is now being prepared to be shipped to overseas markets.

He said Stock Feed out of copra is another product and the first shipment has been exported in January to Markham in Morobe Province and New Zealand although they planned for March or April 2014.

Mr. Watawi said Copra Price now stands at 85 toea per Kilo or K85 per bag and the price is expected to increase depending on the outcome of the first Crude Oil export.

He is strongly appealing to farmers to properly dry their copra as well as not to add foreign matter in the bags when coming to sell so that quality is maintained

Discussions are underway for price stability when Copra Price drops, Mr. Watawi said.

The Consultant said ABG benefits from the 10 percent General Sales Tax or GST from the purchase of Spare Parts to operate the factory.

He added that Export levy fee unfortunately goes to KIK as ABG has no Commodity Board to regulate this but KIK will pay some money back for research and extension work.




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