Press Release
October 29, 2009

DEVELOP RP COCO TRADE, PROMOTE COCO-BIODIESEL TECH--ANGARA

Senator Edgardo J. Angara is urging the Senate to enact the Coconut Emergency Measure Act to immediately address dropping prices in the coconut industry sector and to bolster efforts in coco-biodiesel development.

"As coconut products are still among the top agricultural earners of the country, with over 20 million Filipinos depending on the coconut industry for their living, we must adapt measures to save the industry," stressed Angara, Chair of the Congressional Commission on Science and Technology and Engineering (COMSTE), stresses.

There has been an excess in the global supply of coconut and its by-products, and the domestic market is aggravated by the entry of cheap synthetic materials, other sources of oils and fuels and alternative products sourced from other countries. Angara warned that "if our coconut industry collapses, millions of Filipino farmers and their families will suffer."

Angara also calls for projects generating bio-fuel apart from the traditional products. This came after the unveiling of the country's first coconut biodiesel P3.5 Billion-project in Pagudpud, Ilocos Norte, a joint undertaking of the Philippine BioEnergy Northern Luzon Inc. (Benlinc) and its Japan-based partner, Pacific Bio-Fields Corporation.

The Pagudpud project sheds hope in the local coconut industry. As Angara noted, "introducing coconut oil to the bio-fuel and renewable energy segment optimizes the country's coconut farms and its by-products, including coco-biodiesel."

Along SB 869, Angara is pushing for the enactment of the Bioindustry Development Act to stir the growth of the bio-technology in the country and tap the benefits of our diverse natural resources, in which the coconut farm industry is among the biggest.

"There is no better time to maximize our resources and keep up with the global trade of bio-technology and alternative fuel sources than now. We have enough resources; we just have to set the standards and best practices to see the best results," Angara concluded.

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