Senator Cynthia Villar said the bill that will allow 3.5-million coconut farmers to finally benefit from the P100-billion coconut levy fund will soon be enacted.
Villar commended the Committee on Agriculture and Food now chaired by Senator Francis Pangilinan for prioritizing the bill, which reached plenary debates in the 16th Congress but failed to pass third reading due to issues on how the funds will be invested.
Villar, vice chairman of the agriculture committee, vouched for investing the funds in government securities to ensure the money is safe unlike other high-risk instruments.
She said the bill is meant to ensure that the coco levy trust fund will provide additional support to the coconut farmers.
A unique feature of Senate Bill 139 or the Coconut Farmers and Industry Development Act authored by Villar, is a provision mandating the Philippine Coconut Authority to continue with its regular programs and projects.
“PCA as the assigned agency that supports the coconut industry, will be funded with not less than P5 billion annually by the General Appropriations Act. The coco levy fund will not be touched to fund PCA because doing so will defeat the purpose of providing additional support to farmers,” she stressed.
The Villar proposal also included earmarking for the PCA budget. In consultation with the agency, the P5-billion budget will be distributed as follows: P1 billion for Personnel Services and Administration and P4 billion for Projects (infrastructure, 25 percent; planting, replanting, fertilization and development of seedling nurseries, 15 percent; shared facilities program, 15 percent; research and development, 10 percent; opening of new markets, 10 percent; and palm oil, 5 percent).
Villar said earmarking was also provided in Republic Act 10659 or the Sugarcane Industry Development Act of 2015 covering funding for socialized credit, scholarship grants, infrastructure support programs, among others.
The senator suggested an inter-cropping training program for coconut farmers to augment their income.
“Under the coconut tree, we should be able to do intercropping and livestock. We should be able to take advantage of the growing demand for coffee and cacao. International companies such as Nestlé and Kennemer are in the country because they want to develop the coffee and cacao industry in the Philippines,” Villar said.
Villar said after waiting for more than 40 years, a law will finally be passed for the coconut industry to access the coco levy fund.
