Marcos to prioritize coconut industry as exports seen hitting $3B

President Ferdinand Marcos Jr. will prioritize the development of the country’s coconut industry this year, as government projections show the sector could generate up to $3 billion in export revenues in 2026.

Presidential Communications Office Undersecretary Claire Castro said the administration is committed to sustained support to boost coconut production and improve the welfare of farmers nationwide, citing the industry as a key pillar of the President’s agricultural agenda.

The push was reiterated during the third meeting of the Legislative-Executive Development Advisory Council held at Malacañang Palace on Tuesday.

Among the measures discussed was a proposal to amend the Coconut Farmers and Industry Trust Fund Act, which was included in the 21 priority bills approved by the President during the meeting.

“The President emphasized that the government should help the coconut farmers because we are a large exporter of the product globally. The President ordered the Department of Agriculture to keep an eye on it,” Castro said.

The Philippines is the world’s second-largest coconut producer, generating 14.77 million metric tons in 2024, behind Indonesia.

Data from the Philippine Statistics Authority showed that coconut exports reached $2.66 billion in 2024, up 71.7 percent from $1.55 billion in the previous year.

Coconut oil remained the country’s top export, accounting for more than two-thirds, or about $2.2 billion, of total coconut export earnings.

Castro said further development of the coconut industry is expected to raise farmers’ incomes while strengthening the Philippines’ position in the global agricultural market.