Coconut Industry

Topics: Value added, Gross domestic product, Philippines Pages: 2 (453 words) Published: March 16, 2013
The Philippine coconut industry is a formidable pillar of the national, economic and cultural heritage of the country. It is a source of valuable commodity and a renewable asset, vital components to the building of a strong nation. The coconut tree is called the tree of life for its myriad uses to humanity.

Coconut Consumption
79% of total production goes to exports and 21% for domestic consumptions. From 1990-1997, domestic consumption grew by 3.6% annually, while exports grew by an average of 2%. At current prices, coconut products are among the top ten agricultural exports in the country. On the average, the Philippines exports 80% of total coconut output. Coconut products account for the biggest share of the country’s agricultural commodity exports. The Philippines is among the world’s largest producers and exporters of coconut products. It accounts for 23% of world production and 59% of world exports. Until recently, the country used to supply more than 80% of the world’s total export requirements for coconut products. The Philippines also holds the distinction of being the top exporter of coconut oil in the world.

The coconut industry contributes about 6% to the country’s agriculture gross value added (GVA) and 1.2% to gross national product (GNP). The Philippines is the largest exporter of coconut products and the second largest producer of coconut in the world, after Indonesia. The Philippine coconut industry is a vital natural resource abundant in the countryside. If properly harnessed, it can be the driving force to attain sustainable and equitable agro-industrial development, consistent with the national strategy to deliver from poverty and uplift the quality of life of millions of Filipino coconut farmers and their families. ‘Other benefits of the coconut industry are as follows:

* Will guarantee decent minimum sustenance for millions of households in coconut communities. In times of fuel crisis, the country can draw...
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