Philippines Agriculture

Chapter | Agriculture from The Report: Philippines 2019

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...

The Philippines’ cooling inflation, improved ease of doing business and increased openness to foreign participation are set to encourage more foreign direct investment. A wealth of infrastructure investment under President Rodrigo Duterte’s flagship Build Build Build programme should ease congestion, reduce regional inequality and further boost the flourishing tourism industry.

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With the outbreak of the novel coronavirus disrupting agricultural links to consumers, the Philippine government has sought to bolster food security by providing farmers with financial support and forming new localised supply chains. While these reforms have helped, a number of technological solutions also have the potential to strengthen the industry through greater access to finance.

 

In February 2019 President Rodrigo Duterte ratified the Rice Tariffication Law, which was passed by the legislature in November 2018. The new law, which went into effect on March 5, lifts quantitative restrictions on rice imports and eliminates the role of the National Food Authority (NFA) regarding imports, thus allowing licensed private...

 

What will be the impact of lifting limits on rice imports and the introduction of the Rice Tariffication Act on the agriculture sector?

 

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...

 

Global food demand is expected to increase by anywhere between 59% to 98% by 2050. However, global freshwater resources are already overstretched due to climate change and soaring population growth, and it is unclear how agricultural production will keep up with these challenges. In recent years climate-induced water shortages in urban areas...

The Philippines’ cooling inflation, improved ease of doing business and increased openness to foreign participation are set to encourage more foreign direct investment. A wealth of infrastructure investment under President Rodrigo Duterte’s flagship Build Build Build programme should ease congestion, reduce regional inequality and further boost the flourishing tourism industry.

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