The Coco Levy issue

The issue involves the staggering amount of 90B in Philippine peso. A law was recently passed to establish a National Committee to manage the funds for the benefit of coconut farmers and the Philippine Coconut Industry. The Committee shall be composed of Government officials and representatives of coconut farmers organizations. The Supreme Court had previously declared Coco Levy Funds as owned by Government entrusted for the benefit the coco farmers and the industry.

Well and good? Not really. There are serious objections from several coconut farmers federations nationwide.

First the legal issue: that funds are owned by Government and entrusted to benefit the farmers and the industry is legally correct and acceptable. But this decision of the Supreme Court only makes the Government a TRUST OWNER or A TRUSTEE BUT NOT THE ABSOLUTE OWNER AND CANNOT USE THE FUNDS FOR OTHER PURPOSES OTHER THAN THE BENEFIT OF COCO FARMERS AND INDUSTRY.