Philippines: Marcos ensures funding for 100 million coconut tree planting project

Published 2024년 5월 9일

Tridge summary

President Ferdinand 'Bongbong' Marcos Jr. of the Philippines has pledged support for the Philippine Coconut Authority's plan to plant 100 million coconut trees, as discussed during a meeting with the Private Sector Advisory Council-Agriculture Sector Group. This initiative, aimed at accelerating the planting program and boosting seednut production, is expected to enhance the country's standing as the world's second-largest coconut exporter, following Indonesia. A budget of P2.5 billion has been allocated, which will be used for the fertilization of 55 million coconut trees and doubling local salt production, potentially increasing nut productivity by 25 percent and improving farmers' profits.

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Original content

President Ferdinand ''Bongbong'' Marcos Jr. has ensured that there would be sufficient funding for the Philippine Coconut Authority's project to plant 100 million coconut trees. During a meeting with the Private Sector Advisory Council-Agriculture Sector Group (PSAC-ASG) at the Malacañang Palace on Wednesday, Marcos discussed their recommendations on the development of the coconut industry as well as other agricultural products. According to PSAC Agricultural Sector Group Member Christopher Po of Century Pacific Group, the group is recommending to accelerate the launch of the massive coconut tree planting program by increasing seednut production. “This is really a great opportunity to the country. We have a chance to do it because [of] the market. Every single part of the nut [has] use and can be sold,” Marcos said. The Philippines is the second-biggest coconut exporting country in the world, next to Indonesia, according ...

Source: Gmanetwork