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Article: Export Action Line; The story of the US-imposed excise tax on Philippine coconut oil (Part II).(Business News)
- Article from:
- Manila Bulletin
- Article date:
- November 17, 2007
CopyrightCOPYRIGHT 2007 Manila Bulletin Publishing Corp. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Nelly Favis-Villafuerte
The excise tax imposed on the coconut oil for thirty-two (32) long years coupled with the multimillion dollar anti-tropical oil campaign for several decades against the coconut industry eventually led to the deterioration of the coconut industry and the suffering of millions of coconut farmers in the Philippines.
More coconut plantations were converted into commercial and industrial areas.
While the coconut is not domestically and commercially grown in the US, it is a better product than soybean. The Philippines however was not in a position to defend itself at that time. The Philippines could not compete with US ...