Agri chamber head backs AFMA

President Alejandro T. Escaño of the Philippine Chamber of Agriculture and Food, Inc. (PCAFI) has urged the government to sustain support for the Agriculture and Fisheries Modrnization Act (AFMA) if the country wants to lick the high poverty incidence of 40 percent of the population.

He noted that while agriculture directly accounts for only 20 percent of GDP (gross domestic product), its multiplier effects are very large. Quoting the findings of UA&P economist Cid Terosa, for every P1 change in agriculture output, there is a P1.24 additional change in the other sectors of the economy. These include food processing, transport and communication and finance.

The PCAFI head further said we cannot rely solely on agriculture for job creation. We must address non-farm employment opportunities as well.

Finally, he said that in order to sustain agricultural growth, other necessary elements like efficient transportation system, delivery of real time market information, competitive cost of doing business such as interest rates and power should have to be addressed.