The Department of Agriculture (DA) is encouraging overseas Filipino workers (OFWs), especially those repatriated and displaced from work abroad due to COVID-19 pandemic, to venture into the agriculture sector.
This, as the Philippine Statistics Authority’s (PSA) released an updated list of production costs and returns of selected agriculture commodities data.
Top on the list of the most profitable fruit commodities in the country—with growers recording posting record high return of investments of 377 percent and 220 percent, respectively, in 2019 are pineapple and watermelon, reported the Manila Bulletin.
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:
Average cost of production: Php94,927
Average yield: 41,604 kilograms
Average net returns: Php358,143
Average cost of production: Php78,421
Average yield: 16,596 kilograms
Average net returns: Php172,176
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.
Papaya had a negative net return last year.
In May, DA’s Agriculture Credit Policy Council (ACPC) alloted to P2.5 billion loans meant to assist micro, small, and medium enterprises (MSMEs), OFWs, and millennials venturing into agriculture.
These loan programs come at zero interest, free training, as well as government-led technical and marketing assistance.