Government draws up plan to revive coco sector

MANILA, Philippines — The Philippine Coconut Authority (PCA) recently held a two-day investment forum as part of efforts to attract more investors into the country’s coconut sector.

In a statement, PCA administrator Benjamin Madrigal Jr.invited businessmen to invest in the Philippine coconut industry to increase exports and provide the coconut farmers livelihood.

The forum sought to promote the value addition of coconut products and increase awareness on possible investment prospects brought by new technologies for coconut processing that are ready for commercialization.

“With this forum, we will link our farmer organizations to investment and business opportunities elevating them to become coconut farmer-entrepreneurs or “cocopreneurs,”Madrigal said.

“Let’s help one another to strengthen our cocopreneurs, our companion towards a progressive economy,”he said.

The PCA is set to hold business-to-business meetings on Aug. 9 to 11.

“International and local buyers are also invited for business-to-business matching sessions with the local suppliers providing opportunity for farmer organizations to bring the Philippine coconut products to the global market,”the PCA said.

Agriculture Secretary William Dar earlier cited the need to grow the contribution of the coconut industry to the economy.

“We need to increase the contribution of the coconut subsector to total agricultural gross value added, being the country’s top export product. And with substantial budgetary resources, thanks to RA 11524, we could awaken a ‘sleeping giant’ and restore us to a position of global leadership,” Dar said.

From 2014 to 2018, the Philippines ranked as the world’s number one exporter of coconut products, with average export revenues of P91.4 billion, according to the PCA.

“Let’s continue working together, to reach tangible and sustainable results as producers and consumers of coconut products. As we continue to nurture this industry, we strive to innovate and work together as one in order to achieve economic prosperity, particularly among the coconut farming communities,” Dar said.

With the passage of the Coconut Farmers and Industry Trust Fund Act, PCA has aunched the Coconut Farmers and Industry Roadmap which will serve as the backbone of the development plan currently being crafted as required by the said law.

“This roadmap will provide the general direction for farmers’ welfare and industry development towards sustainable and equitable gains, especially for the benefit of the smallholder coconut farmers and micro, small and medium enterprises,” he said.

Madrigal said the PCA hopes to present the first draft of the coconut industry development plan by the end of the month.