The Philippines will prioritise the development of the country’s coconut industry this year, as government projections show the sector could generate up to US$3bn in export revenues in 2026, the Daily Tribune reported.
Citing the industry as a key pillar of the president’s agricultural agenda, Presidential Communications Office undersecretary Claire Castro was quoted as saying that the administration was committed to boosting coconut production and improving the welfare of farmers nationwide.
On 10 February, the President had approved 21 priority bills, including a proposal to amend the Coconut Farmers and Industry Trust Fund Act, the report on the same day said.
“The president emphasised that the government should help the coconut farmers because we are a large exporter of the product globally,” Castro said.
With production of 14.77M tonnes in 2024, the Philippines is the world’s second-largest coconut producer, behind Indonesia, according to the report.
Data from the Philippine Statistics Authority showed that coconut exports reached US$2.66bn in 2024, up 71.7% from US$1.55bn the previous year.
Coconut oil remained the country’s top export, accounting for more than two-thirds, or about US$2.2bn, of total coconut export earnings.
Further development of the coconut industry was expected to raise farmers’ incomes while strengthening the Philippines’ position in the global agricultural market, Castro added.
