Monday, December 10, 2018

Gov Marcos eyes 3-pronged rescue package for coconut industry

Nov 27, 2018 @ 18:53

Ilocos Norte Governor Imee Marcos is proposing a three-pronged rescue package for coconut farmers.

The Ilocos Norte politiko said the government must extend credit to coconut farmers.

Secondly, Marcos said copra smugglers should be prosecuted.

Lastly, she said moving toward a 5 percent biodiesel blend (B5) from the current 2 percent will serve as a long-term solution to the problem of plummeting copra prices.

“Our coconut industry continues to suffer because of the supply glut in the global market. What makes this worse is that the slump is happening during the peak of the harvest season, which is from June to October,” Marcos said.

But the Ilocos Norte governor conveniently failed to mention that part of the coconut farmers’ plight is rooted in the coco levy fund scam involving her father, the late dictator Ferdinand Marcos, and his cronies who allegedly used the taxes for personal profit instead of the development of the industry.

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