The Philippines is in a good position to offer numerous opportunities to agriculture-oriented investors, thanks to its strategic location, favourable climactic conditions and available resources for agriculture.
The country has a land area of 30 million hectares, 9,671 million hectares of which is considered as agricultural land. Prime agricultural lands are located around the rural and less populated areas. In the first quarter of 2016, the agricultural industry grew by 4,4%. Admittedly, Philippine agriculture does not perform as well as the services and industrial sectors and remains vulnerable to extreme weather events, which could reduce agricultural output.
The Philippines’ agricultural land area is divided into four categories, namely:
About 12 million Filipinos work in the agricultural sector. If the country can significantly increase its exports and imports of agricultural goods, agricultural provinces would generate much greater revenue, provide more employment opportunities, and lessen poverty in rural areas. This is especially important for Mindanao, the country’s breadbasket that has great underdeveloped potential for agricultural exports.