Detail

Philippines

Oilseeds, oils and meals

Coconut

18/09/2018

Production

Sector development measures

Approved a bill creating a trust fund to be used over the next 25 years for the benefit of the country’s coconut farmers.

A congressional bicameral committee has approved a bill creating a PHP 100 billion (USD 1.86 billion) trust fund to be used over 25 years to the benefit of the country’s 3.5 million coconut farmers. The funds originate primarily from a levy collected from coconut farmers during the 1970s to support the development and rehabilitation of the country’s coconut industry (see also MPPU Jan.’15 & July’16). Managed by the Philippine Coconut Authority, the funds will be earmarked for the following activities: scholarship programmes; shared facilities; empowerment of coconut farmer organizations and cooperatives; health schemes; infrastructure; planting, replanting and establishment of nurseries; intercropping; research & development; credit schemes; marketing and creation of new products; and fertilizer distribution.