Manila, Oct. 23 -- The daily copra price watch system is now benchmarked to help ensure fair abaca pricing in the country, the Philippine Coconut Authority (PCA) reported on Thursday.

The Philippine Fiber Industry Development Authority (PhilFIDA) initiated the move to address long-standing concerns about the growing disparity between the farmgate and the selling prices of abaca.

In a statement, PCA Administrator Dexter Buted expressed support for data-driven monitoring of abaca prices.

"This is a step toward a more equitable pricing environment, farmer empowerment, and integrated fiber and coconut industry growth," he said.

The PCA's copra price monitoring system, managed by its Trade and Market Development Department, provides daily ...