While the country is well positioned to tap into new export markets, volatile weather conditions, land reform issues and a legacy of neglect continue to hinder agricultural output, preventing the Philippine agriculture sector from reaching its true potential. In addition to these constraints, the Philippines lags behind regional competitors in mechanisation adoption rates, crop research and access…
Driven by economic reform and robust domestic consumption, the Philippines now ranks among the fastest-growing economies in the world, after seven consecutive years of GDP growth above 6%. Despite this, however, the agriculture sector has struggled to reach its true potential. While the country is well positioned to tap into new export markets, volatile weather conditions, land reform issues…
Interview:Henry Lim Bon Liong What will be the impact of lifting limits on rice imports and the introduction of the Rice Tariffication Act on the agriculture sector? HENRY LIM BON LIONG: The competitiveness of the Philippines’ rice production has fluctuated over time. In the 1960s the country’s output was higher than that of both Thailand and Vietnam, which are the largest exporters among…
Favourable demographics, ongoing structural reforms, and an increasing openness to foreign participation bode well for the prospects of the Philippine economy over the medium to long term. In 2019 cooling inflation as a result of easing commodity prices and the implementation of supply-side policies have improved business sentiment, while the general endorsement of President Rodrigo Duterte’s ag
The Philippines has lifted restrictions on rice imports under new legislation aimed at bridging the supply gap and reducing prices. On February 14 President Rodrigo Duterte ratified the Rice Tariffication Law, which had been passed by Parliament in November. The new law, which went into effect on March 5, lifts quantitative restrictions on rice imports and removes the importing role of the National…
Interview: Emmanuel Piñol What is the Department of Agriculture’s strategy to become a net exporter of agricultural products? EMMANUEL PIÑOL: The department has not set a specific timeline to become a net exporter of agricultural products. However, in the Philippine Development Plan (PDP) 2017-22 we are targeting an increase in the value of agriculture and fishery exports by 5% in 2018, 7% in…
Despite the accelerated growth of other industries in recent decades, agriculture remains a pillar of the Philippine economy, providing employment for 27% of the labour force in 2016, according to the most recent data from the Philippine Statistics Authority (PSA). Although the sector’s contribution to GDP has declined in recent decades, falling from over 30% in the 1970s to 9.65% in 2016, there…
Against a backdrop of increasingly severe and costly climate events and natural disasters, technology is poised to play an important role in maintaining and improving global agricultural output. The adoption of digital and precision farming practices has been shown to improve crop resiliency and boost productivity and incomes, particularly in emerging markets where small-scale farmers are often more…
Increasing public and private efforts are being made to move Philippine farming from subsistence to commercial operations with initiatives to modernise production techniques, harness new technologies and link farmers with national and regional value chains. One of the largest government programmes to encourage entrepreneurship in the sector is the Agribusiness Support for Promotion and Investment…
Despite the accelerated growth of other industries in recent decades, agriculture remains a pillar of the Philippine economy, providing employment for 27% of the labour force in 2016, according to the most recent data from the Philippine Statistics Authority. Although the sector’s contribution to GDP has declined in recent decades, falling from over 30% in the 1970s to 9.65% in 2016, there have been…
