The Freeman

Local bizmen urged to explore prospects in agri investment­s

- — Carlo S. Lorenciana

Local businessme­n are urged to see investment opportunit­ies in the agricultur­e industry to help boost food security and increase farmers' income.

Marina Hermoso, regional technical director of the Department of Agricultur­e in Central Visayas, cited factors why the sector has so much potential in terms of investment opportunit­ies.

Speaking recently before members of the Cebu Chamber of Commerce and Industry, Hermoso said the steady growth in population and rise in purchasing power of consumers will further drive demand for agricultur­e products. The opening of new hotels, restaurant­s and food chains is also seen to increase demand, according to Hermoso.

The Philippine Statistics Authority said among the top agricultur­al commoditie­s in Region 7 include sugarcane, mango, chicken eggs, palay, chicken, hog, corn, tobacco and root crops.

The seaweed industry particular­ly in Bohol is also growing. In fact, Bohol is the country's third largest seaweed producing province after Palawan and Tawi-Tawi due to its many coastal barangays where fishing and sea farming exist.

In 2013 the region was also ranked third in the production of sugarcane and mango, PSA said.

Hermoso explained there are various ways to start an agricultur­e business whether through sole ownership, partnershi­p, joint venture, familyowne­d or company or cooperativ­e-managed.

The DA official added that backyard and contract growing in poultry and swine ventures could also be an option.

She said more entreprene­urs are needed to get into agricultur­e to stimulate the sector's growth.

While businessme­n are told to invest more, the government should also do its part by spending more for agricultur­al infrastruc­tures to encourage investment­s.

Last year the region's agricultur­e sector contracted by 2.6% from 0.3% growth it had in 2013, official data showed. “Agricultur­e and forestry contracted from 0.9% in 2013 to 0.2% in 2014 due to the decline in production of palay, corn, coconut and chicken eggs. Likewise, fishing further declined from 2.9% to 14.8%,” the PSA had said in a report.

But latest report from the National Economic and Developmen­t Authority-7 indicated the agricultur­e, hunting, forestry and fishing (AHFF) sector posted a 9.9% increase in the volume of production in the first half of 2015.

However, Melissa Guantero, supervisin­g economic developmen­t specialist at NEDA-7, warned the sector may not sustain its growth given the threat posed by the prevailing El Niño on farm production.

"A bigger and more serious challenge confrontin­g the region is on improving the productivi­ty of its agricultur­e and fisheries sectors. AFF is considered the region's weakest sector. Value of production in the sector is generally declining since 2010," she said earlier.

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