Misamis Oriental: President Ferdinand R. Marcos Jr. has inaugurated the PHP350-million Solving Unemployment through Rural Industrialization, Sustainable and Enterprise Integrated Coconut Processing Facility (SUnRISE-ICPF), a significant initiative aimed at transforming the coconut industry in Misamis Oriental province.

According to Philippines News Agency, the new facility is a collaborative effort between the public and private sectors, designed to benefit over 66,000 coconut farmers directly. The initiative seeks to enhance the value of coconut products beyond traditional copra, with the President highlighting its potential to raise the farmgate price of coconuts from the current PHP8 to PHP10 per kilo to PHP16 to PHP18 per kilo.

The SUnRISE-ICPF is capable of processing up to 60,000 coconuts daily, producing six high-value products for both local and international markets. These products include coconut pallets, coconut boards from husks, activated carbon from shells, coconut water, coconut sap, and coconut flour and skim milk from the coconut meat. The facility is also expected to generate employment for approximately 2,500 Filipinos.

President Marcos has previously articulated his vision for the Philippines to become the world's leading coconut exporter, considering it a significant opportunity for the nation's economic growth.