MWSS-LWUA Complex, WSTC Building, Katipunan Avenue, Balara, Quezon City
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NAPC Supports Coco Farmers’ Trust Fund_Press Release

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The National Anti-Poverty Commission (NAPC) supports the filing of petition for indirect initiative to enact the Coconut Farmers’ Trust Fund Act of 2014. The bill aims to develop the country’s coconut industry and provide benefits long overdue to poor coconut farmers.

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NAPC Supports Coco Farmers’ Trust Fund_Press Release

  1. 1. MWSS-LWUA Complex, WSTC Building, Katipunan Avenue, Balara, Quezon City Telephone Nos.: (632) 426-5028, 426-5019, 426-4956, 426-4965 Fax No.: (632) 927-9838 www.napc.gov.ph Office of the President of the Philippines NATIONAL ANTI-POVERTY COMMISSION A A PRESS RELEASE May 13, 2014 NAPC Supports Coco Farmers’ Trust Fund “It’s about time that we make the recovered coco levy funds benefit the poor coconut farmers,” said anti-poverty chief, Secretary Jose Eliseo Rocamora. The National Anti-Poverty Commission (NAPC) supports the filing of petition for indirect initiative to enact the Coconut Farmers’ Trust Fund Act of 2014. The bill aims to develop the country’s coconut industry and provide benefits long overdue to poor coconut farmers. The initial capital of the Trust Fund will come from the recovered monies of the coco levy funds, starting from the proceeds of the Coconut Industry Investment Fund–San Miguel Corporation (CIIF-SMC) Series 1 preferred shares and its dividends, amounting to around P70 billion. The Coconut Farmers’ Trust Fund will assist marginalized coconut farmers develop coconut- based enterprises that can compete in the global market. “And more importantly, these coco-based enterprises aim to immediately increase the income of poor coco farmers,” Sec. Rocamora added. “On average, a poor copra farmer earns only around P3,000 a month. The bill also proposes a committee that will run the Trust Fund. The members will come from government agencies, including NAPC, and from the farmers’ organizations. Through this bill, government with the coconut farmers takes steps to immediately use the recovered levy funds to revitalize the coconut industry that will benefit coconut farmers, especially small and poor farmers. “The indirect initiative of small coconut farmers is historic because it shows their willingness to coordinate with the government, particularly Congress, in utilizing untapped coco levy funds for the development of the industry,” said Sec. Rocamora. For more inquiries, please contact: MR. BRYAN VILLASANA NAPC Communications Officer +639272862812

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