HB02464: AN ACT REVITALIZING THE COCONUT INDUSTRY, APPROPRIATING FUNDS THEREFOR AND FOR OTHER PURPOSES
This bill seeks to revitalize the coconut industry in the Philippines by transforming the Philippine Coconut Authority into a new government corporate entity known as the Philippine Coconut Industry Development Authority (PHILCIDA).
The coconut industry plays a key role in national development, with about one-third of the country's agricultural land dedicated to coconut cultivation. However, the industry faces challenges such as poor farm management practices, natural calamities, and land conversion.
The proposed PHILCIDA would be tasked with the integrated development of the coconut industry, focusing on increasing farm productivity, conducting research, regulating the market, and providing support services to coconut farmers.
The bill is particularly significant due to the essential role of coconut as a strategic, indigenous, and renewable source of livelihood for many Filipinos.