Imee Marcos on Sunday said the recovered P100 billion in coconut levy funds, which were forcibly collected from farmers during the reign of her late father, Ferdinand Marcos, should be used to help farmers cope with declining copra prices. ADVERTISEMENTIn a statement, Marcos said some 3.5 million coconut farmers were in dire need of financial aid from the Duterte administration amid the plummeting local prices for copra. “Proceeds from the coco levy fund should also be used to directly benefit poor coconut farmers, especially amid this plunge in prices of copra,” Marcos said. Intervention“What we need is immediate intervention through a rescue package for our coconut farmers,” she added. Citing data from the Philippine Coconut Authority, Marcos said the usual farm-gate price of copra was P18 to P22 per kg last month.

Source: Philippine Daily Inquirer November 25, 2018 21:18 UTC