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Published March 1, 2021, 11:43 AM
Boosting the local coconut industry and helping Filipino coconut farmers are the main goals of the Coco Levy Act.
The Coconut Levy Act that President Duterte recently signed, and which seeks to create a trust fund for coconut farmers through the sale of assets procured through the coco levy fund, would benefit the country’s 3.5 million coconut farmers from 68 coconut producing provinces, who have owned no more than five hectares for the last 10 years, said Sen. Cynthia A. Villar, chairperson of the Senate Committee on Agriculture and Food.
Senator Cynthia Villar, the principal sponsor of Senate Bill No. 1396, hopes that the “Coconut Farmers and Industry Trust Fund Act” will resolve the decades-old issue surrounding the coco levy fund.
Press Release
March 1, 2021
Coco Levy Act to benefit 3.5M Filipino farmers and spur the development of our coconut industry
President Rodrigo Duterte s signing into law of a measure that seeks to create a trust fund for coconut farmers through the selling of assets procured through the coco levy fund would benefit the country s 3.5 million coconut farmers from 68 coconut producing provinces owning not more than five hectares, for the last 10 years said Sen. Cynthia A. Villar The coconut farmers are the poorest in the country. They earn only about P1,500 a month. This fund which rightfully belongs to the coconut farmers, should be plowed back to them for their own direct benefit, also said Villar, chairperson of the Senate committee on Agriculture and Food.
Press Release - Villar: Coco Levy Act to benefit 3 5M Filipino farmers and spur the development of our coconut industry senate.gov.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from senate.gov.ph Daily Mail and Mail on Sunday newspapers.