TO : | The Governing Board of the Philippine Coconut Authority |
a) | To insure the continuous and adequate supply of essential coconut-based products for the benefit of the consumers; and | |
b) | To insure that the impact of the worldwide inflationary spiral on the coconut farmers is likewise cushioned. |
a) | The acquisition of refineries and additional oil mills by the coconut farmers, in order that the objective of the vertical integration of the coconut industry in a manner making the coconut farmers direct participants and beneficiaries thereof may be attained within the shortest possible time; and | |
b) | The social amelioration program for coconut farmers, in order to further promote the direct personal well-being of the coconut farmers and that of their families. |
25% | — | To augment the Coconut Industry Investment Fund (CIIF), to be used to finance the establishment and operation of industries and commercial activities relating to the coconut and other pain oil industry, as prescribed by Article III, Sec. 9, of P.L. 1468. |
40% | — | As additional fund for the social amelioration of the coconut farmers in the form of mutual assistance, protection and relief, such as for insurance, and for providing health facilities and services, as prescribed by Article III, Section 2(e), of P.D. 1468. |
35% | — | As the Copra Price Stabilization Fund (CPSF). |
a) | To minimize the present intervention of multiple copra middlemen and thereby achieve a more efficient and non—speculative marketing of the copra from the coconut farmers to the end-users such as the oil mills, refineries and copra exporters, the COCOFED and its chapters shall organize and operate cooperative centers which will collect the coconut products directly from the farmers. |
b) | The CPSF shall be administered for the coconut farmers by a Committee composed of three (3) members, one (l) of uliom shall be designated by the PCA, one (l) by the COCOFED, and one (l) by the administrator of the CIIF. The members shall elect from among themselves the Chairman of the Committee. |
c) | The funds of the CPSF shall be utilized initially to finance the capital expenditures necessary to establish and operate the COCOFED cooperative collecting centers. Thereafter, the CPSF and the profits derived from the operations of the COCOFED cooperative collecting centers shall be returned, if feasible and practicable, as patronage dividends to the coconut farmers who may be entitled thereto as determined by the CPSF Committee, such patronage dividends for each individual recipient to be computed on the basis of copra sold by such recipient, and the patronage devidends shall be paid directly to the farmers concerned at such times as may be conveniently done and as determined by the CPSF Committee. |
d) | The copra supported by the CPSF shall be sold to end-users owned ore controlled by the coconut farmers thru the CIIF. |
e) | To insure the effective implementation and continued viability of the operations of the COCOFED cooperative collecting centers, the PCA may, from tine to time, with the concurrence of the COCOFED and the administrator of the CIIF, adjust the ratio of allocation provided in paragraph 1 above or make the necessary reallocation. |