THE coconut industry development plan, backed by a trust fund worth P75 billion, will seek to provide social protections and set up local businesses for the benefit of the estimated 2.9 million farmers in the industry, the Department of Agriculture (DA) said.
The Coconut Farmers and Industry Development Plan will draw from the trust fund to modernize the industry, with a 50-year time horizon for full industrialization, as well as support research to improve productivity, the DA said.
The Philippine Coconut Authority is currently updating its database of registered farmers to come up with a reliable list of eligible beneficiaries.
The Integrated Information Management System for the industry will also be developed to automate submissions, reporting, monitoring and data collection. The system will enable such reports to be accessed by the government, implementing agencies, and the public.
The trust fund’s capital was generated from seized assets improperly purchased using a levy extracted from coconut farmers during the administration of President Ferdinand E. Marcos, Sr. — Luisa Maria Jacinta C. Jocson