CIIF Spends P800 Million for Coconut Farm

The CIIF Oil Mills Group has so far invested around P800 million for a farm-development program that seeks to assist coconut farmers.

CIIF President and Chief Executive Officer Jesus Arranza said that as of July 13, the government-owned and -controlled corporation funded the planting and replanting of seedlings in 223,000 hectares.

CIIF has also funded intercropping initiatives for farmers tilling 2,460 hectares of coconut farmlands.

“This program is the initiative of the President and is being undertaken through the Department of Agriculture. The goal is to extend help to coconut farmers and give them other sources of livelihood,” Arranza told reporters in an interview.

The coconut-farm development program launched in September 2007 called for developing 1.3 million hectares of coconut farmlands through planting, replanting and salt fertilization. (http://businessmirror.com.ph)