The Department of Agriculture (DA) is seeking a ₱1.2-billion budget for 2027 to expand the domestic oil palm industry, up from this year’s ₱79-million allocation.
Agriculture Secretary Francisco Tiu Laurel said the funding will support fertilizer assistance, area expansion, and programs to boost productivity and farmer incomes.
Oil palm yields an average of 3.8 metric tons per hectare, nearly four times that of coconut, with farmers earning almost double the annual income of coconut growers.
Currently, plantations cover about 100,000 hectares, mostly in Mindanao, with 11 palm oil mills and five refineries nationwide.
The DA aims to reduce palm oil imports as domestic demand rises, while the Philippine Coconut Authority plans nurseries and seed programs to increase local production.
Source: PhilNews24 | February 28, 2026
DA AIMS TO EXPAND OIL PALM INDUSTRY TO MEET GROWING LOCAL DEMAND
Latest from Business
Megawide Construction Corp. is proposing a ₱3.5-billion integrated transport hub in Quezon City that could rival
Coco Mama has pledged to plant one million coconut trees over the next five years to
The number of Personal Equity and Retirement Account (PERA) contributors rose nearly fivefold to 30,055 as
Shipping giant 2GO Group Inc. has launched TraveLink, a service that allows travelers to book land
Philippine Seven Corp. (PSC), the local operator of 7-Eleven, is set to open its 5,000th store