AGRICULTURAL ECONOMICS

Florete | Hallasgo | Mondido | Parcon | TesoroMLS 2A

DefinitionAgriculture

The science, art, and business of cultivating soil, producing crops, and raising livestock; farming.

Definition according to EconomicsAgricultural Economics study of the allocation, distribution, and utilization of the resources used, along with the commodities produced, by farming. Agricultural economics plays a role in the economics of development, for a continuous level of farm surplus is one of the wellsprings of technological and commercial growth

Significance Share of agriculture in the National income

Source of livelihood of the citizens

Dependency of industrial development on agriculture

Role of agriculture in the field of international trade

Supply of food and food security

Issues in Agriculture Supplying the growing global demand for

commodities Availability and price of land for expansion New government mandates and regulations Stability, development and fluctuation in

global market Impact of global trade policies on food

security ,the supply and demand for commodities

Development and use of bio-based fuels

Performance of Philippine Agriculture

Source: http://www.bas.gov.ph

Source: http://www.bas.gov.ph

Source: http://www.bas.gov.ph

Source: http://www.bas.gov.ph

Source: http://www.bas.gov.ph

Source: http://www.bas.gov.ph

Trade

Source: http://www.bas.gov.ph

Trade

Source: http://www.bas.gov.ph

Philippine Agricultural Products for Import and Export

Since 1980s, the Philippines have opened their economy to foreign markets, and established a network of free trade agreements with several countries. 

The United States is one of the Philippines top trading partner.

Philippine Agricultural Products for Import and Export

In 2010, according to US Department of Commerce , trade between the Philippines and US amounts to US$15.4 billion.

US is also the Philippines largest foreign investor, with foreign direct investment close to US$6 billion at the end of 2009.

EconomyGNI (at current prices): P 13,851 billion

      (at constant 2000 prices): P 8,069 billion

GDP (at current prices): P 11,548 billion

      (at constant 2000 prices): P 6,765 billion

Share of agriculture in GDP 10%

GVA in agriculture and fishing

   (at current prices): P 1,293 billion

   (at constant 2000 prices): P 701 billion

Distribution by sub-sector: Crops: 50%:

   palay 21% , corn 6%

   coconut 4%, banana 5%

   sugarcane 2% , mango 2%, pineapple 2%, others 8%

Livestock: 13%

Poultry: 11%

Fishery: 19%

Agricultural activities and services : 7%

Production

    Palay: 18.44 million metric tons

    Corn: 7.38 million metric tons

    Hog: 2.01 million metric tons

    Chicken: 1.56 million metric tons

Number of Agricultural Farms: (2002)

4.82 million

    Palay: 2.15 million

    Corn: 1.46 million

    Coconut: 2.60 million

    Sugarcane: 0.17 million

Source: http://countrystat.bas.gov.ph/?cont=3

Agricultural Employment

Total employment :  38.12 million persons 

Agricultural employment :  11.84 million persons 

    Share of agriculture: 31%

Agricultural wage rates per day:

(January to June, in nominal terms)

 

    palay workers P 256.52

   corn workers P 206.04

Source: http://countrystat.bas.gov.ph/?cont=3

Share of agriculture in Total Employment

2011 2012 201330

30.5

31

31.5

32

32.5

33

33.5

Series 1

Series 1

Source: http://countrystat.bas.gov.ph/?cont=3

External TradeValue of total agricultural exports: 

US$ 6,318 million f.o.b. 

% agriculture in total exports:      

12%

Top agricultural export commodities: 

coconut oil (15%), banana fresh (14%), 

tuna (11%), pineapple and products (7%)Major markets:         coconut oil:  USA (43%), Netherlands (29%)   banana fresh:   Japan (36%), China (14%)  tuna: USA (21%), Germany (13%)

   pineapple and products: USA (42%), Japan a(17%)

Value of total agricultural imports: 

 US$ 7,802 million c.i.f.

% agriculture in total imports:      

12%

Top agricultural import commodities: 

wheat & meslin (11%), soyabean oil/cake meal (10%), milk & cream& products (10%)

 Major suppliers:              

    wheat and meslin:  USA (63%), Canada (12%)

  soyabean oil/cake meal: USA (50%), Argentina (48%)  

     milk & cream& products: 

New Zealand (36%), USA (35%)

   

Agricultural trade deficit: US$ 1,484 billion

Source: http://countrystat.bas.gov.ph/?cont=3

Growth Rates in the Total Value of Agricultural Exports and Imports

2011 2012 2013

-10

-5

0

5

10

15

20

25

30

35

exportsimports

Source: http://countrystat.bas.gov.ph/?cont=3

Prices

Producer price index in agriculture: 140.9%

Consumer price index: All items: 133.9%

Food, and non-alcoholic beverages: 143.7 %

Headline inflation rate: All items 3.0%

Rice (4.1%), Corn (4.5%), Meat 2.0%), Fish (3.1%), Fruits 4.6%), Vegetables 2.3%)

Source: http://countrystat.bas.gov.ph/?cont=3

Annual Inflation Rates

2011 2012 20130

1

2

3

4

5

6

All ItemsFood and Non Al-coholic Beverages

Source: http://countrystat.bas.gov.ph/?cont=3

End

Florete | Hallasgo | Mondido | Parcon | TesoroMLS 2A