[File Photo]

Farmers need to cash in on the current market price of copra, which is selling at an all-time peak of $1,500 per ton.

Fiji Coconut Millers Pte Limited Board chairman, Raj Sharma, says due to a recent copra shortage, the government stepped in to help by providing subsidies to help revitalize the industry.

“The other thing is the world market price of coconut oil and other food items. We are buying coconut at $1,500 per ton, which is the peak price for farmers, and this equates to about 7,000 nuts. “

He thanked the Ministry of Agriculture and the government for subsidizing the selling price of copra to rejuvenate the industry.

A tree-planting initiative has begun around the country to plant more coconut trees, which will take five to seven years to bear fruit.