OFWs Invited to Invest in Profitable Fruit Production in the Philippines

The Philippine Department of Agriculture is encouraging Filipino workers both abroad and recently displaced from overseas jobs by COVID-19 pandemic, to invest in the country’s agriculture sector, especially in fruit production.

The latest data released by the Philippine Statistics Authority showed a list of agricultural commodities with a high return on investment. Data available included the production cost and returns of selected produce.

According to a Manila Bulletin report, 2019 data from PSA showed pineapple and watermelon topped the most profitable agricultural products with a high return on investments.

Image by Matthias Böckel from Pixabay

Below are the average costs of production of the top profitable fruit commodities and their respective return of investments per hectare, based on last year’s computation:

1. Pineapple
Average cost of production: Php94,927
Average yield: 41,604 kilograms
Average net returns: Php358,143

2. Watermelon
Average cost of production: Php78,421
Average yield: 16,596 kilograms
Average net returns: Php172,176

3. Calamansi
Average cost of production: Php76,890
Average yield: 6,422 kilograms
Average net returns: Php153,218

Aside from pineapple, watermelon, calamansi, other profitable fruit commodities include durian, and mango.

On the other hand, investment in papaya crops had a negative net return in 2019.

In May, the Agriculture Credit Policy Council (ACPC) of the Department of Agriculture allocated P2.5 billion loans meant to assist micro, small, and medium enterprises (MSMEs), OFWs, and millennials venturing into agriculture.

These loan programs are offered at zero interest and provides free training, as well as government-led technical and marketing assistance.

You might also like
Comments
Loading...