The Bureau of Customs is heading towards difficult times in terms of collection, with the prevailing high prices of palm oil in the world market, records at the BoC in Dumaguete showed.

The local BoC is very dependent on revenues derived from palm oil importation of the Dumaguete Coconut Oil Mills for the last two years, customs collector Dr. Medolita Cabanag said.

In 2006, the bureau collected P75 million, a huge increase from its usual P3 to P5 million collection because of palm oil importation.

It dipped to P72 million because the price of palm oil had increased from $300 per metric ton to $800 per metric ton in the last quarter of 2007, Cabanag said.

Starting January this year, it increased to as high as $1,200 per metric ton, prompting DOCUMI to temporarily suspend importation of palm oil.

From a collection target of P55 million, the BoC in Dumaguete now has a reduced target of P15 million this year.

Other contributors to the collection efficiency of the BoC are the ammonium nitrate exportation of Orica and liquefied petroleum gas from Pryce gas.

Cabanag said she was saddened to note that the intended arrival of Pryce gas intended for Dumaguete this month, was diverted to Iloilo.*JG

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