General santos city: The government is currently studying Republic Act (RA) 11524 or the Coconut Farmers and Industry Trust Fund Act to introduce possible amendments to the law, President Ferdinand R. Marcos Jr. said on Friday. Marcos made the pronouncement, as he visited the Century Pacific Agricultural Ventures Inc.’s coconut plant at the Millennium Industrial Economic Zone in General Santos City, Palace Press Officer Claire Castro told reporters.
According to Philippines News Agency, the President laid out the government’s concrete solutions in support of the coconut industry during his visit. Castro highlighted that the government is analyzing potential amendments to the Coconut Farmers and Industry Fund Act to determine necessary steps to further develop the sector. The focus is on advancing programs that can accelerate the country’s coconut planting and expansion project.
RA 11524, enacted in 2021, mandates maintaining the Trust Fund for 50 years under the Coconut Farmers in Industry Development Plan, which will be formulated. Discussions on the use of the coconut levy fund are ongoing to meet the needs of the coconut farming sector.
President Marcos has instructed the Department of Agriculture (DA), the Department of Trade and Industry (DTI), and the Philippine Coconut Authority (PCA) to expand seed farms, communal nurseries, and the distribution of hybrid seedlings. These agencies were also tasked with finding ways to encourage investment in the coconut industry and exploring potential coconut-based products.
The agencies were also directed to monitor the implementation of the revised Coconut Farmers and Industry Development Plan (CFIDP) and intensify the Massive Coconut Planting and Replanting Program to boost coconut production. Marcos issued Memorandum Circular 84, approving and adopting the CFIDP 2024-2028, which seeks to outline strategies for national development programs to improve the socio-economic status of Filipino coconut farmers.
In August 2024, President Marcos approved an additional budget for the coconut industry’s massive planting, replanting, and fertilization programs for 2025, amounting to PHP1 billion and PHP2.5 billion, respectively. The PCA aims to plant 100 million coconut trees by 2028.