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Sunday, September 03, 2006

CEMA Board wants SI to venture into value added products from coconut tree

Acting Chairman of the Commodities Export and Marketing Authority Board Augustine Rose is calling on Solomon Islanders to venture into value added products from coconut tree.

Speaking at the launch of this year's World Coconut day which coincided with the launch of the new one-hundred dollars notes, Mr Rose said Solomon Islands is yet to fully utilise the potentials of the tree.

He said Solomon can enter into value added products such as coconut oil, bio-fuel, desiccated coconut, coconut water and coconut milk instead of only producing copra.

Mr Rose said that to fully utilise the potentials, there needs to be constant supply of the product, modern processing equipment and proper pricing of the products.

He said coconut has been the country's main economic base over the years pumping in millions of dollars into the local economy.

Mr Rose said for the coconut industry to reap huge benefits to Solomon Islands, the government and aid donors must work cooperatively with others in the industry to address difficulties faced by the industry.

In another related news, Acting Prime minister and the Minister for Finance and Treasury Bartholomew Ulufa'alu yesterday launched the new one-hundred dollar bank notes.

Speaking during the launching ceremony yesterday, Governor of Central Bank Rick Hou said it took more than five years to have the bank notes into circulation.

He said this is because of the many factors Central Bank had to consider before printing the denomination.

Mr Hou said the Bank had to consider the size and distribution of population, economic activities, wage levels, various forms of payment, different mediums of cash disbursement and the availability of banking facilities.

He said the a lot of pressure is being put on the 50-dollar notes in circulation.

Mr Hou said the long process before the currency is put into circulation is based on the complication of the task to make sure security measures are properly in place and that it involved a lot of various agencies and groups.

He said this is also to assure the public of rumours in Honiara recently that the delivery of the notes has nothing to do with the Family Charity Fund.

The Launch yesterday coincided with the launch of the World Coconut day activities.

Source: SIBC

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