[File Photo]

Certain initiatives announced in the national budget will assist in the revitalization of the struggling copra industry, says Fiji Coconut Millers Chair Raj Sharma.

Sharma says there are slightly over two hundred registered farmers and over three hundred who are indirectly engaged with the Fiji Coconut Millers.

He says the increase in the price of copra will give renewed confidence to coconut farmers.

“The guaranteed price increased from $1000 to $1350, which very much gives confidence to the copra farmers to go back to getting the copra. We had been facing constraints of a shortage of copra, but this should give confidence to our farmers that there is good money for them.”

Sharma says farmers will be gaining more, which is a good sign.

“In addition to that, there is a capital grant of $420,000 given for rehabilitation of the farms, where $250,000 will be allocated for the farmers to upgrade their farms in Cakaudrove and other areas that supply copra to Fiji Coconut Millers.”

The coconut industry was once a major source of export revenue alongside sugar, and thousands of Fijians used to depend on it.