Philippines: Marcos approves additional budget to boost coconut industry

President Ferdinand Marcos Jr. has approved an additional budget earmarked to fund some improvements in the coconut industry for the next few years. According to a press statement posted by the Presidential Communications Office on Tuesday, the additional budget of P1 Billion would be used for mass replanting and P2.5 billion is allotted for fertilization programs. The objective of the replanting program is to plant around 100 million coconut trees by 2028 in over 700,000 hectares of land. The Philippine Coconut Authority (PCA), meanwhile, will use their budget to purchase fertilize for the said program. “I’m focusing on the production side [of the coconut industry] and that’s what we have to increase. The critical part of that is the replanting,” said Marcos. PCA Administrator Dexter Buted said the additional funds would be used to plant a total of 15.3 million new coconut trees by 2025. The PCA aims to plant 8.5 million seedlings this year, 15.3 million seedlings in 2025, and ...