Published April 11, 2021, 12:12 AM
The recent enactment of Republic Act 11524, also known as the Coconut Famers and Industry Trust Fund Act (or Coco Levy Act) brings into sharp focus the significance of the coconut industry. “Can we call the coconut industry a sleeping giant?” inquired Agriculture Secretary William Dar in an essay he wrote in late 2019. His answer: “It is the third most dominant crop, after rice and corn. While the productivity of rice and corn has been steadily increasing, the country’s coconut farms need a shot in the arm.”
Secretary Dar’s shot in the arm analogy assumes greater realism amid the economic doldrums brought on by the COVID-19 pandemic.