Marcos ensures funding for 100M coconut tree planting project

President Ferdinand ''Bongbong'' Marcos Jr. has ensured that there would be sufficient funding for the Philippine Coconut Authority's project to plant 100 million coconut trees.

During a meeting with the Private Sector Advisory Council-Agriculture Sector Group (PSAC-ASG) at the Malacañang Palace on Wednesday, Marcos discussed their recommendations on the development of the coconut industry as well as other agricultural products.

According to PSAC Agricultural Sector Group Member Christopher Po of Century Pacific Group, the group is recommending to accelerate the launch of the massive coconut tree planting program by increasing seednut production.

“This is really a great opportunity to the country. We have a chance to do it because [of] the market. Every single part of the nut [has] use and can be sold,” Marcos said.

The Philippines is the second-biggest coconut exporting country in the world, next to Indonesia, according to the Presidential Communications Office. 

The PSAC said a P2.5-billion budget allows for the fertilization of 55 million coconut trees and the doubling of local salt production. 

This could result in a 25 percent increase in nut productivity and additional profit for farmers, the body said. --VAL, GMA Integrated News