Philippines Seeks Palm Oil Funding Boost Amid Import Dependence

The Philippines Department of Agriculture (DA) is seeking increased funding to rapidly expand domestic palm oil production, aiming to reduce the country's heavy reliance on imports. The DA is requesting PHP300m (US$4.8m) for palm oil development in 2027.

Agriculture Secretary Francisco P. Tiu Laurel Jr. underscored the urgent need for more funding for the palm oil sector, as the Philippines imports nearly 90% of its palm oil requirements. 'Definitely palm oil is an industry that needs support from both the national government and local government units (LGUs) where palm oil industries and stakeholders are located,' he said.

The DA's goal is to transform palm oil into a more significant domestic industry, reducing the country's exposure to international supply fluctuations while creating new opportunities for farmers and investors. To support this ambition, Tiu Laurel proposed giving the Philippine Coconut Authority (PCA) a dedicated deputy administrator and separate teams focused on palm oil and coconut development.

The DA also plans to recommend that President Ferdinand R. Marcos Jr. certify the proposed Palm Oil Bill as an urgent move to establish a stronger legal and policy framework for sector expansion.