Coco levy trust fund powerful instrument visayandailystar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from visayandailystar.com Daily Mail and Mail on Sunday newspapers.
Published August 4, 2021, 3:28 PM
The Department of Finance (DOF) said the coco levy trust fund is a “powerful instrument” that will reinvent the coconut industry and ensure support for farmers amid the continuing decline of copra prices in the global market.
Finance Secretary Carlos G. Dominguez III said on Wednesday, August 4, said that there was “perhaps no greater reform” in addressing the impact of the steady drop in the prices of copra and coconut oil than the enactment of the Coco Levy Trust Fund Law this year.
Republic Act (RA) No. 11524 or the Coconut Farmers and Industry Trust Fund (CFITF) Act was signed into law by President Duterte in February, marking the fulfillment of his promise to return the coco levy funds to their true and rightful owners the coconut farmers.