Kokonut Pacific Solomon Islands, KPSI, has announced a 45% increase in the buying price for Virgin Coconut Oil.

Virgin Coconut Oil had been bought at $13.75 per kilogram last year but this year, the company says it has raised its buying price to $20 per kilogram.

The company says the price increase has been influenced by the exchange rate with the Australian dollar and the high price of copra.

The company also says it is planning to export more than 50 tonnes of virgin coconut oil from the Solomon Islands this year and will endeavor to keep the buying price of virgin coconut oil at $20 per kilogram.

KPSI is the only organisation in the Solomon Islands which has organic certification.

The certified organic virgin coconut oil is exported to Australia, Europe and North America.