India awaiting APCC approval for IMCC and Centre of Excellence

India is awaiting approval of APCC countries for proposals relating to setting up of an International Market Centre of Coconut (IMCC) for Asia in Kochi and a Centre of Excellence for coconut in Tamil Nadu.
India had mooted the proposal to set an IMCC for Asia at Kochi and a Centre for Excellence in Tamil Nadu on the inaugural day of the 51st APCC meet here on February 2.
Coconut Development Board chairman T K Jose told reporters today that the proposals would be discussed at great length by the APCC countries before a final decision is taken. "We are awaiting APCC approval," he said.

APCC member countries account for over 90 per cent of world coconut production and exports if coconut products. But sellers are compelled to market their products in buyers' markets and the price is decided by buyer cartel, Jose said.
Presently, reference point for International trading for coconut oil, copra, copra meal is Rotterdam Market in Europe, which is buyers market. The rate quoted in this market highly influences market price at Asia and Pacific region, he said.
Hence, it was important to have international coconut product markets in major coconut producing countries one each in Asia and Pacifc region for the benefit of coconut farmers world over, he said.

On the plan to set up an International Centre of Excellence-coconut in India, he said Tamil Nadu government has agreed to provide 100 acre of land for the same. India will be extending financial support amounting to about Rs 60 crore (USD 10 million) and also for infrastructure, Human Resource and Technology.