SENATOR Cynthia Villar said the recently passed Coconut Farmers and Industry Development Act is set to alleviate the plight of coconut farmers.
In a speech delivered by Lynette Marcos Abarro, Villar’s political officer for Mindanao, the senator said the funds provided by the new law will help shape a better coconut industry in the country.
“Ilang dekada rin yan hinihintay ng 3.5 million coconut farmers sa ating bansa (3.5 million coconut farmers in the country have been waiting for that). It is among the priority legislative measures pushed by President Rodrigo Roa Duterte during his State of the Nation Address (Sona),” Villar said in a speech delivered by Abarro during the opening of the Davao Agri Trade Expo (Date) last Thursday, September 20, 2018.
Villar, Senate committee on agriculture and food chairperson, said the P100-billion coco levy trust fund which was also approved in August will fund different programs for coconut farmers and the development of coconut agencies.
The fund will be managed by the reconstituted Philippine Coconut Authority (PCA) which will be composed four representatives from the government, one each from PCA, Department of Finance (DOF), Department of Agriculture (DA) and Department of Budget and Management (DBM) and other coconut stakeholders and farmers.
“Taun-taon P35 billion ang gagastusin mula sa coco levy fund yearly (P35 billion will be spent yearly from the coco levy fund),” Villar said.
The fund will be spent for shared facilities; scholarship programs; empowerment of coconut organizations and cooperatives; farm improvement to encourage self-sufficiency; and health and medical benefits.