agricultural econ 2a
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AGRICULTURAL ECONOMICS
Florete | Hallasgo | Mondido | Parcon | TesoroMLS 2A
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DefinitionAgriculture
The science, art, and business of cultivating soil, producing crops, and raising livestock; farming.
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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
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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
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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
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Performance of Philippine Agriculture
Source: http://www.bas.gov.ph
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Source: http://www.bas.gov.ph
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Source: http://www.bas.gov.ph
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Source: http://www.bas.gov.ph
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Source: http://www.bas.gov.ph
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Source: http://www.bas.gov.ph
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Trade
Source: http://www.bas.gov.ph
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Trade
Source: http://www.bas.gov.ph
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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.
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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$6 billion at the end of 2009.
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EconomyGNI (at current prices): P 13,851 billion
(at constant 2000 prices): P 8,069 billion
GDP (at current prices): P 11,548 billion
(at constant 2000 prices): P 6,765 billion
Share of agriculture in GDP 10%
GVA in agriculture and fishing
(at current prices): P 1,293 billion
(at constant 2000 prices): P 701 billion
Distribution by sub-sector: Crops: 50%:
palay 21% , corn 6%
coconut 4%, banana 5%
sugarcane 2% , mango 2%, pineapple 2%, others 8%
Livestock: 13%
Poultry: 11%
Fishery: 19%
Agricultural activities and services : 7%
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Production
Palay: 18.44 million metric tons
Corn: 7.38 million metric tons
Hog: 2.01 million metric tons
Chicken: 1.56 million metric tons
Number of Agricultural Farms: (2002)
4.82 million
Palay: 2.15 million
Corn: 1.46 million
Coconut: 2.60 million
Sugarcane: 0.17 million
Source: http://countrystat.bas.gov.ph/?cont=3
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Agricultural Employment
Total employment : 38.12 million persons
Agricultural employment : 11.84 million persons
Share of agriculture: 31%
Agricultural wage rates per day:
(January to June, in nominal terms)
palay workers P 256.52
corn workers P 206.04
Source: http://countrystat.bas.gov.ph/?cont=3
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Share of agriculture in Total Employment
2011 2012 201330
30.5
31
31.5
32
32.5
33
33.5
Series 1
Series 1
Source: http://countrystat.bas.gov.ph/?cont=3
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External TradeValue of total agricultural exports:
US$ 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
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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
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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
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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
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End
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