Pres. Aquino to meet with coconut farmers regarding coco levy fund

President Benigno S. Aquino III is scheduled to have a dialogue with coconut farmers to discuss the coco levy fund.

“Makikipagdayalogo si Pangulong Aquino at ang mga miyembro ng Gabinete sa pangkat ng Kilos Magniniyog sa Malacañang. Handang pakingggan ng Pangulo ang mga usapin na ihaharap ng mga magsasaka at tukuyin ang mga programang isinasagawa ng pamahalaan para sa kapakanan nila,” Presidential Communications Operations Office Secretary Herminio Coloma, Jr. said.

Some 71 coconut farmers have been conducting a 71-day march, walking 1,075 kilometers from Davao City to reach Malacañang Palace on Wednesday (November 26). They have sought a dialogue with President Aquino to ask him to resolve the issue regarding the P71-billion coco levy fund.
Coloma noted that even though the Supreme Court ruled in November 2012 that the fund must be used to improve the lives of the coconut farmers, the High Court still has to go through an “entry of judgment”.

“At dahil dito, hindi pa maaaring ikonsiderang final at executory ang naging pagpapasya na iyon. Kaya’t kailangang maresolba ang usapin na iyan at humahanap naman ng paraan ang pamahalaan kung paano matutukoy ang mga kahilingan o mga pangangailangan ng ating mga magsasaka na habang hindi pa nakakamit iyang tinatawag na entry of judgment,” he explained.

In 1972, former President Ferdinand Marcos issued a presidential decree to collect fees from coconut farmers through the Philippine Coconut Authority. This fund was then used to buy shares in San Miguel Corporation (SMC).

In 2012, the Supreme Court declared that the SMC shares are "owned by the government to be used only for the benefit of all coconut farmers and for the development of the coconut industry." This however has not been realized.

The disputed fund is currently being held by the National Treasury and the United Coconut Planters Bank. (PCOO News Release)