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
The Bangko Sentral ng Pilipinas (BSP) has reminded banks to ensure that non-deliverable foreign exchange derivatives
Maynilad Water Services Inc. will lower water tariffs for the third quarter starting July 1 due
Agriculture Secretary Francisco Tiu Laurel Jr. defended Executive Order 116, which increases the minimum access volume
The Philippines has begun plans to build its own strategic petroleum stockpile following supply disruptions and
The National Food Authority (NFA), under the Department of Agriculture, is planning to increase its buying