Latest news with #PhilippineCoconutAuthority
GMA Network
16-07-2025
- Business
- GMA Network
PCA says 100-M coconut tree goal on track, eyes boost in yields and farmer support
The Philippine Coconut Authority said it is on pace to meet President Ferdinand Marcos Jr.'s target of planting 100 million coconut trees by the end of his term, as part of a national strategy to revitalize the country's coconut industry, increase export earnings, and support millions of Filipino farmers. PCA Administrator Dr. Dexter Buted said the agency is implementing a 'twin program' focused on large-scale planting and fertilization to address aging coconut trees, improve productivity, and strengthen the industry's role in the economy. 'Ito po 'yung mandato ng ating mahal na Presidente, Ferdinand Marcos Jr., na magtanim ng 100 million coconuts," said Buted at a televised public briefing on Wednesday. (This is the directive of our beloved President Ferdinand Marcos Jr. — to plant 100 million coconuts.) The Philippines is currently the world's second-largest coconut producer, with an annual yield of approximately 14.7 billion coconuts. Indonesia, the current leader, produces around 17.1 billion. According to Buted, the government aims to close this gap by improving sustainability and productivity through the twin program. 'Para mapalampasan natin at tayo ang manguna sa global market, kailangan tayong gumawa ng mga hakbang," he said. (To surpass them and lead the global market, we must take proactive steps.) Targets and Progress Since the initiative began in 2022, PCA has planted around 1.7 million coconut seedlings in 2023. In 2024, the agency reported planting 8.6 million seedlings, slightly surpassing its 8.3 million target. For 2025, it aims to plant 15.3 million, and from 2026 to 2028, 25 million trees per year, totaling 100 million by the end of the program. Buted added that with sustained implementation, the country could reach an estimated yield of 20.1 billion coconuts by 2034 — even beyond the current administration's term. 'Pagdating ng 2034, kahit hindi na niya term, makikita mo na talagang umusbong — nanguna tayo," he noted. (By 2034, even after the President's term ends, you will see that the industry has flourished — we will be leading.) Economic and Industry Impact According to PCA, the coconut industry contributes around $2.2 billion annually in export revenues. Coconut is one of the country's top agricultural exports, with emerging applications in biofuel and aviation fuel. 'May aviation fuel tayo — nag-start na tayo sa EU na nasa 2% ng requirement nila para ma-blend natin sa ating fuel,' Buted said. (We've begun blending our coconut-derived aviation fuel with 2% of the EU's fuel requirement.) PCA also reported enhancements to the Coconut Farmers and Industry Development Plan (CFIDP), recently amended under the Marcos administration. The updated plan includes components such as social protection, community-based farm enterprises, and cooperative development. Among the new support mechanisms is a medical assistance program that provides farmers and their dependents with up to P40,000 for hospitalization costs, on top of existing government healthcare coverage. Outpatients may also receive P5,000 in support. 'Pag na-hospital ang farmer…nakakapagbigay tayo ng maximum of P40,000,' Buted said. (When a farmer is hospitalized, we can provide up to P40,000.) Mobile medical missions and medicine distribution are also being conducted in farming communities as part of the rollout. PCA estimated that the coconut industry directly supports about 2.8 million farmers and indirectly benefits around 20 million people across the country. The agency said it will continue monitoring progress and adjusting strategies as needed to meet its long-term targets in both production and social development.—AOL, GMA Integrated News
Yahoo
27-04-2025
- Business
- Yahoo
Coconuts get pricier as poor weather drives global shortage
By Anuradha Raghu (Bloomberg) – When Mohamad Fahmi Faat's family in Kuala Lumpur prepared only half their usual amount of food for recent Eid al-Fitr celebrations, he blamed an ongoing shortage of coconuts, a staple ingredient in many Asian cuisines. 'Fresh coconut milk was very limited during Eid,' said the 45-year-old restaurant manager, who had to make less of signature dishes like beef rendang. 'I could only buy three packets instead of six and it wasn't enough.' Poor weather in some of the world's top growers has hurt production, shrinking global supplies and, in some places, doubling prices of the increasingly sought-after tropical fruit. Some producing countries like the Philippines and Indonesia are considering export restrictions, while consumers are being urged to switch to alternatives of the ingredient used in everyday cooking and a range of products like vegan milk and energy drinks. The world's biggest coconut producer, the Philippines, expects a 20% decline in output this year. That's because for the past two years, extreme weather – from drought to tropical cyclones – has strained trees like those on the southern coastal plantations of one of its largest exporters. 'The main reason behind the low supply is climate-driven,' Henry Raperoga, president and chief operating officer of Axelum Resources, said an email. 'These events have led to reduced yields, delayed harvests and limited farmer mobility.' The Philippine Coconut Authority said it's in talks with producers about keeping a portion of their coconut oil for domestic use before allowing exports. 'This proposed scheme is intended to secure local supply and stabilize prices without disrupting our export commitments,' the agency said in a statement. Other producers like Indonesia, Thailand and Vietnam are also seeing supplies constrained by weather issues and higher domestic consumption, Raperoga added. In second-biggest producer Indonesia, the industry ministry has proposed a three-to-six month export ban, levies on outbound shipments, and benchmark pricing to stabilise local prices that have skyrocketed 150% in the past three months. Wholesale prices at a weekly auction in the Sri Lankan capital have more than doubled over the past year after a crop shortfall caused by a combination of poor weather and disease. The government in February granted a request from producers to import coconut kernels to help ease market pressure. Global demand, meanwhile, is expected to keep climbing thanks to the coconut's reputation as a tasty lactose-free and plant-based option, according to Axelum, which counts the US as its largest market and is also seeing growing sales in Europe and Latin America. Related products like coconut oil, milk and desiccated flakes are also gaining popularity thanks to wellness and sustainability trends. Coconut oil consumption is expected to rise slightly to 3.23 million tons this year from 3.2 million a year ago, according to the International Coconut Community, with the US, EU and China importing the most. The US Department of Agriculture forecasts global stockpiles of coconut oil to close the 2024-25 season at a four-year low. The squeeze has already translated to soaring prices of coconut oil, which have doubled since 2023 to trade at three-year highs of $2,658 a ton, according to data from Commodity3. That's causing some traders in Malaysia to temporarily shutter operations, with consumers urged to switch to alternatives like cooking cream or yogurt for curries, sauces and cakes, according to local media. For restaurant manager Fahmi, that's just not good enough. 'Coconut milk is the heartbeat of Malaysian food,' he says. 'If you change or replace fresh coconut milk, the taste fails.' More stories like this are available on ©2025 Bloomberg L.P.
The Star
26-04-2025
- Business
- The Star
Coconuts get pricier as poor weather drives global shortage
MANILA/KUALA LUMPUR (Bloomberg): When Mohamad Fahmi Faat's family in Kuala Lumpur prepared only half their usual amount of food for recent Hari Raya celebrations, he blamed an ongoing shortage of coconuts, a staple ingredient in many Asian cuisines. "Fresh coconut milk was very limited during Eid (Hari Raya),' said the 45-year-old restaurant manager, who had to make less of signature dishes like beef rendang. "I could only buy three packets instead of six and it wasn't enough.' Poor weather in some of the world's top growers has hurt production, shrinking global supplies and, in some places, doubling prices of the increasingly sought-after tropical fruit. Some producing countries like the Philippines and Indonesia are considering export restrictions, while consumers are being urged to switch to alternatives of the ingredient used in everyday cooking and a range of products like vegan milk and energy drinks. The world's biggest coconut producer, the Philippines, expects a 20% decline in output this year. That's because for the past two years, extreme weather - from drought to tropical cyclones - has strained trees like those on the southern coastal plantations of one of its largest exporters. "The main reason behind the low supply is climate-driven,' Henry Raperoga, president and chief operating officer of Axelum Resources Corp., said an email. "These events have led to reduced yields, delayed harvests and limited farmer mobility.' The Philippine Coconut Authority said it's in talks with producers about keeping a portion of their coconut oil for domestic use before allowing exports. "This proposed scheme is intended to secure local supply and stabilize prices without disrupting our export commitments,' the agency said in a statement. Other producers like Indonesia, Thailand and Vietnam are also seeing supplies constrained by weather issues and higher domestic consumption, Raperoga added. In second-biggest producer Indonesia, the industry ministry has proposed a three-to-six month export ban, levies on outbound shipments, and benchmark pricing to stabilize local prices that have skyrocketed 150% in the past three months. Wholesale prices at a weekly auction in the Sri Lankan capital have more than doubled over the past year after a crop shortfall caused by a combination of poor weather and disease. The government in February granted a request from producers to import coconut kernels to help ease market pressure. Global demand, meanwhile, is expected to keep climbing thanks to the coconut's reputation as a tasty lactose-free and plant-based option, according to Axelum, which counts the US as its largest market and is also seeing growing sales in Europe and Latin America. Related products like coconut oil, milk and dessicated flakes are also gaining popularity thanks to wellness and sustainability trends. Coconut oil consumption is expected to rise slightly to 3.23 million tons this year from 3.2 million a year ago, according to the International Coconut Community, with the US, EU and China importing the most. The US Department of Agriculture forecasts global stockpiles of coconut oil to close the 2024-25 season at a four-year low. The squeeze has already translated to soaring prices of coconut oil, which have doubled since 2023 to trade at three-year highs of $2,658 a ton, according to data from Commodity3. That's causing some traders in Malaysia to temporarily shutter operations, with consumers urged to switch to alternatives like cooking cream or yogurt for curries, sauces and cakes, according to local media. For restaurant manager Fahmi, that's just not good enough. "Coconut milk is the heartbeat of Malaysian food,' he says. "If you change or replace fresh coconut milk, the taste fails.' --With assistance from Eko Listiyorini, Manolo Serapio Jr. and Asantha Sirimanne. -- ©2025 Bloomberg L.P.
Straits Times
26-04-2025
- Business
- Straits Times
Coconuts get pricier as poor weather drives global shortage
Poor weather in some of the world's top growers has hurt production and shrinking global supplies. PHOTO: AFP KUALA LUMPUR – When Mr Fahmi Faat's family in Kuala Lumpur prepared only half their usual amount of food for recent Eid al-Fitr celebrations, he blamed an ongoing shortage of coconuts, a staple ingredient in many Asian cuisines. 'Fresh coconut milk was very limited during Eid,' said the 45-year-old restaurant manager, who had to make less of signature dishes like beef rendang. 'I could only buy three packets instead of six and it wasn't enough.' Poor weather in some of the world's top growers has hurt production, shrinking global supplies and, in some places, doubling prices of the increasingly sought-after tropical fruit. Some producing countries like the Philippines and Indonesia are considering export restrictions, while consumers are being urged to switch to alternatives of the ingredient used in everyday cooking and a range of products like vegan milk and energy drinks. The world's biggest coconut producer, the Philippines, expects a 20 per cent decline in output for 2025. That's because for the past two years, extreme weather – from drought to tropical cyclones – has strained trees like those on the southern coastal plantations of one of its largest exporters. 'The main reason behind the low supply is climate-driven,' Mr Henry Raperoga, president and chief operating officer of Axelum Resources, said an email. 'These events have led to reduced yields, delayed harvests and limited farmer mobility.' The Philippine Coconut Authority said it's in talks with producers about keeping a portion of their coconut oil for domestic use before allowing exports. 'This proposed scheme is intended to secure local supply and stabilise prices without disrupting our export commitments,' the agency said in a statement. Other producers like Indonesia, Thailand and Vietnam are also seeing supplies constrained by weather issues and higher domestic consumption, Mr Raperoga added. In second-biggest producer Indonesia, the industry ministry has proposed a three-to-six month export ban, levies on outbound shipments, and benchmark pricing to stabilise local prices that have skyrocketed 150 per cent in the past three months. Wholesale prices at a weekly auction in the Sri Lankan capital have more than doubled over the past year after a crop shortfall caused by a combination of poor weather and disease. The government in February granted a request from producers to import coconut kernels to help ease market pressure. Global demand, meanwhile, is expected to keep climbing thanks to the coconut's reputation as a tasty lactose-free and plant-based option, according to Axelum, which counts the US as its largest market and is also seeing growing sales in Europe and Latin America. Related products like coconut oil, milk and dessicated flakes are also gaining popularity thanks to wellness and sustainability trends. Coconut oil consumption is expected to rise slightly to 3.23 million tons in 2025 from 3.2 million a year ago, according to the International Coconut Community, with the US, EU and China importing the most. The US Department of Agriculture forecasts global stockpiles of coconut oil to close the 2024-25 season at a four-year low. The squeeze has already translated to soaring prices of coconut oil, which have doubled since 2023 to trade at three-year highs of US$2,658 (S$3,500) a ton, according to data from Commodity3. That's causing some traders in Malaysia to temporarily shutter operations, with consumers urged to switch to alternatives like cooking cream or yogurt for curries, sauces and cakes, according to local media. For restaurant manager Fahmi, that's just not good enough. 'Coconut milk is the heartbeat of Malaysian food,' he says. 'If you change or replace fresh coconut milk, the taste fails.' Bloomberg Join ST's Telegram channel and get the latest breaking news delivered to you.
Economic Times
26-04-2025
- Business
- Economic Times
Coconuts get pricier as poor weather drives global shortage
iStock The Philippine Coconut Authority said it's in talks with producers about keeping a portion of their coconut oil for domestic use before allowing exports. When Mohamad Fahmi Faat's family in Kuala Lumpur prepared only half their usual amount of food for recent Eid al-Fitr celebrations, he blamed an ongoing shortage of coconuts, a staple ingredient in many Asian cuisines.'Fresh coconut milk was very limited during Eid,' said the 45-year-old restaurant manager, who had to make less of signature dishes like beef rendang. 'I could only buy three packets instead of six and it wasn't enough.' Poor weather in some of the world's top growers has hurt production, shrinking global supplies and, in some places, doubling prices of the increasingly sought-after tropical fruit. Some producing countries like the Philippines and Indonesia are considering export restrictions, while consumers are being urged to switch to alternatives of the ingredient used in everyday cooking and a range of products like vegan milk and energy world's biggest coconut producer, the Philippines, expects a 20% decline in output this year. That's because for the past two years, extreme weather — from drought to tropical cyclones — has strained trees like those on the southern coastal plantations of one of its largest exporters.'The main reason behind the low supply is climate-driven,' Henry Raperoga, president and chief operating officer of Axelum Resources Corp., said an email. 'These events have led to reduced yields, delayed harvests and limited farmer mobility.' The Philippine Coconut Authority said it's in talks with producers about keeping a portion of their coconut oil for domestic use before allowing exports. 'This proposed scheme is intended to secure local supply and stabilize prices without disrupting our export commitments,' the agency said in a producers like Indonesia, Thailand and Vietnam are also seeing supplies constrained by weather issues and higher domestic consumption, Raperoga second-biggest producer Indonesia, the industry ministry has proposed a three-to-six month export ban, levies on outbound shipments, and benchmark pricing to stabilize local prices that have skyrocketed 150% in the past three months. Wholesale prices at a weekly auction in the Sri Lankan capital have more than doubled over the past year after a crop shortfall caused by a combination of poor weather and disease. The government in February granted a request from producers to import coconut kernels to help ease market demand, meanwhile, is expected to keep climbing thanks to the coconut's reputation as a tasty lactose-free and plant-based option, according to Axelum, which counts the US as its largest market and is also seeing growing sales in Europe and Latin products like coconut oil, milk and dessicated flakes are also gaining popularity thanks to wellness and sustainability trends. Coconut oil consumption is expected to rise slightly to 3.23 million tons this year from 3.2 million a year ago, according to the International Coconut Community, with the US, EU and China importing the most. The US Department of Agriculture forecasts global stockpiles of coconut oil to close the 2024-25 season at a four-year low. The squeeze has already translated to soaring prices of coconut oil, which have doubled since 2023 to trade at three-year highs of $2,658 a ton, according to data from causing some traders in Malaysia to temporarily shutter operations, with consumers urged to switch to alternatives like cooking cream or yogurt for curries, sauces and cakes, according to local media. For restaurant manager Fahmi, that's just not good enough.'Coconut milk is the heartbeat of Malaysian food,' he says. 'If you change or replace fresh coconut milk, the taste fails.'
