Agriculture

Belied by its relatively modest contribution to the overall economy, the Philippine agriculture sector remains a key component in the social and economic development of the country; more than 24.53m Filipinos work in the sector, making it economically and politically vital. Taken together, agriculture, forestry, hunting and fishing expanded by 2.92% in 2012, up slightly from 2.59% in 2011. At current prices, the value of agriculture production reached $33bn in 2012. Recent efforts by the government to increase efficiency and productivity within the industry should help boost profitability in the sector. Further, once in place, business-friendly policies and enhanced infrastructure should provide an attractive market for investors looking to harness the sector’s untapped potential. This chapter contains interviews with Virgilio de los Reyes, Secretary, Department of Agrarian Reform; and John Martin Miller, Chairman and CEO, Nestlé Philippines.