President Ferdinand Marcos, Jr. urged members of the 20th Congress on Monday to amend Republic Act (RA) No. 11524 or the Coconut Farmers Industry and Trust Fund Act to improve the living and working conditions of coconut farmers.
Marcos made this announcement during his fourth State of the Nation Address (SONA), where he laid down the initial achievements of his administration in the agricultural sector.
“To further invigorate the coconut industry, we will ask Congress to amend the Coconut Farmers and Industry Trust Fund Act so that it better responds to the needs of our farmers,” President Marcos said.
“This is just part of our broader efforts to strengthen various industries, including the salt industry,” he added.
The Palace earlier said possible amendments include the advancement of “effective and responsive” programs to accelerate the country’s coconut planting and expansion project.
The President likewise promised to take decisive action against unscrupulous traders who would manipulate the prices of agricultural commodities, especially rice.
“I warn traders who try to manipulate the price of palay or rice, or cheat farmers. We will go after you, because what you are doing is considered economic sabotage,” Marcos said.
Under the Anti-Agricultural Economic Sabotage Act, smuggling, hoarding, profiteering, cartel, and financing of crimes involving agricultural and fishery products are classified as acts of economic sabotage.
Offenders will face a penalty of life imprisonment and a fine of up to five times the value of the products involved in the crime.
The Department of Agriculture said from November 2024 to February this year, more than P3.09 billion worth of smuggled rice and agri-fishery products were confiscated amid an intensified campaign against agricultural smuggling, hoarding, and profiteering.
The DA earlier said it would prosecute around 100 individuals tied to 20 blacklisted firms allegedly involved in agricultural smuggling, targeting to secure at least one conviction before the end of the year.
Editor’s Note: This story has been updated. Originally posted with the headline “SONA 2025: Marcos vows to amend Coconut Farmers Industry and Trust Fund Act.”
