Monopolies in the Philippines (1965–1986) granted PD 1468, which declared the money as private and prevented any government audit. Cojuangco bought San Miguel Corporation (SMC) with the funds from the Coco levy. SMC is one of the oldest and largest beer, food, packaging and livestock conglomerate in the Philippines. President Marcos gave favors to SMC once Cojuangco became its head. Taxes were raised for liquor and cigarettes in January 1986, but excise taxes on beer went down. Beer is one of the main products of SMC, which helped the corporation save as much as $40 million that year. When Marcos was President, he often wrote
Beer in the Philippines the key manufacturer in 2007, with the smaller and emerging brewers trying to grab a share of the market. Domestic beer remained one of the most popular alcoholic drinks in 2007 and sari-sari stores and independent food stores continued to be the main outlets. There are also establishments that are called "beerhouses" which could be described as a cross between a bar and a restaurant. Consumption and sales of alcoholic drinks in the Philippines are projected to expand positively during 2008. With increasing disposable incomes, a young demographic population will evolve. This, together with the emerging influence of Western drinking