Expect Recovery of PH Coconut Industry in Coming Years - DA Secretary

The Department of Agriculture (DA) is eyeing to reap the fruits of its efforts toward revitalizing the coconut industry in the coming years.  In the last decade, DA Secretary William Dar said the coconut sector’s contribution to agricultural gross value added (GVA) remained at an average of 4 percent.  With the newly reconstituted Philippine Coconut Authority (PCA), bigger things are expected.

“We expect a dramatic rebound of the subsector in the next few years due to the release of the coconut levy fund by the President,” Dar said in his speech at the Department of Finance’s Sulong Pilipinas virtual conference on April 26.  The DA-PCA formulates a development plan for the industry that aims to increase the subsector’s contribution to agricultural GVA significantly. 

DA data showed that coconut planted on more than three million hectares contributed at least 10 percent to GVA.  “Coconut is a top Philippine export that brings in considerable foreign exchange. Besides, we now have substantial budgetary resources to develop this sleeping giant, thanks to the passage of the Coconut Farmers and Industry Trust Fund Law or Republic Act (RA) No. 11524,” Dar added.