Manila: President Ferdinand R. Marcos Jr. is advocating for the immediate passage of proposed amendments to the Coconut Farmers and Industry Act to bolster the coconut sector, as reported by Malaca±ang on Tuesday. 'Ang isa po sa binigyang-tutok ng Pangulo ay iyong tungkol sa pagpapaganda ng coconut industry (One of the areas the President is focusing on is the improvement of the coconut industry),' Palace Press Officer Claire Castro told reporters.

According to Philippines News Agency, Castro highlighted that the proposed amendments aim to ensure a more responsive approach to the evolving needs of coconut farmers. The President underscored the importance of helping coconut farmers, noting the Philippines' status as the second-largest coconut exporter globally. 'So, binigyang-diin po iyan ng Pangulo na dapat matulungan po natin ang mga coconut farmers natin dahil tayo raw po ang nag-e-export. Second tayo sa pinakamalaki nag-e-export sa buong bansa. So, pinatutukan din po ito ng Pangulo (The President emphasized that we need to help our coconut farmers because, apparently, we are the second-largest exporter in the world. So, this is also a priority for the President),' she said.

The Coconut Farmers and Industry Trust Fund Act, or Republic Act (RA) 11524, was signed into law in February 2021. It introduced reforms aimed at ensuring the efficient use of the trust fund in accordance with the Coconut Farmers and Industry Development Plan (CFIDP). RA 11524 mandates the maintenance of the Trust Fund for 50 years under the CFIDP, which outlines strategies for national development programs including social protection, capacity building, empowerment of farmer organizations, infrastructure, and other support programs to enhance the socio-economic status of Filipino coconut farmers and revitalize the coconut industry.

The proposed amendments are designed to further modernize the sector by introducing measures to enhance productivity, facilitate access to credit and technology, and strengthen farmer cooperatives. The initiative is expected to help the Philippines maintain its position as a leading global coconut exporter while ensuring that farmers directly benefit from the nation's coconut wealth.