On Coco Levy: Better late than never

We commend the Supreme Court's upholding of a ruling of the government’s re-conveyance of the 24 percent block of shares in San Miguel Corp. (SMC) acquired through coconut levy funds and registered in the names of the Coconut Industry Investment Fund (CIIF) and its holding companies. While we would have wanted the entire amount of the coconut levy to go to the coconut farmers, the said amount will still be a big boost to the industry.

The next challenge would be to come up with a system that would ensure that the freed-up coco levy would go to their rightful beneficiaries. We are now studying the crafting of legislation that would ensure the proper implementation of disbursement.

The coco levy fund is needed for replanting that will improve the yield of coconuts and give the industry a much-needed boost.

The Philippine Coconut Authority reports that while the country’s coconut industry contributes 59 percent to the world’s total export of coconut products, most of the trees are aging and dying, unable to produce quality nuts.

We must end decades of injustice by ensuring that the funds are plowed back to programs that will raise the incomes of our coconut farmers and improve their profitability.


Image Source: Inquirer.net

Revive dying coconut industry, benefit from upsurge in Coco water demand

We welcome the news from President Benigno Aquino III’s U.S. trip regarding potential foreign investments in the Philippine coconut industry. The President disclosed on Friday that two U.S. companies, Pepsi Co. and Vita Coco, are looking to invest $15 million within the next four years, to meet the surging demand for coco water. The Philippines’ very own ‘buko’ juice is believed to be rich in electrolytes and minerals and could therefore be a healthier alternative to sports drinks.

These foreign investments will mean nothing if our coconut industry is dead. We called on the Department of Agriculture to allow five billion pesos from the irrigation budget to help save the coconut industry, because no less than the Philippine Coconut Authority had said that our coconut trees are dying.

The first order of business is to bring the coconut industry back to life.

We need to revive this dying industry, invest the necessary government funding to boost coconut production and ensure the income of our farmers, and develop a roadmap for the sustainability of coconut production.

Aside from the U.S., let’s also look at other markets for buko juice and other coconut products worldwide, especially now that demand is on an upswing again.

The bottomline for these efforts would be to lift coconut farmers out of poverty. While the Philippines is known for its coconut products, its coconut farmers earn only P30,000 a year.

How can anyone live or raise a family on just P30.000 a year, or just P2,500 a month? This is totally unacceptable and unjust. With these new investments should come a resurgence in the coconut industry and a better life for our coconut farmers. Government and the private sector should make sure that we don’t lose out on this opportunity.