AGRICULTURAL CREDIT

BUREAU OF AGRICULTURAL STATISTICS

REPORT No. 2013-01

ISSN-2012-0435

AGRICULTURAL CREDIT

BUREAU OF AGRICULTURAL STATISTICS

TERMS OF USE Agricultural Indicators System (AIS) Report is a publication of the Bureau of Agricultural Statistics (BAS), Department of Agriculture. The BAS reserves exclusive right to reproduce this publication in whatever form. Should any portion of this publication be included in a report/article, the title of the publication and the BAS should be cited as the source of data. The BAS will not be responsible for any information derived from the processing of data contained in this publication.

ISSN-2012-0435

Please direct technical inquiries to the Office of the Director BUREAU OF AGRICULTURAL STATISTICS Ben-Lor Building, 1184 Quezon Avenue, Quezon City, Philippines 1100 Email : info@bas.gov.ph Website : www.bas.gov.ph

Design and Layout Information and Dissemination Services Section (IDSS)

AGRICULTURAL CREDIT

BUREAU OF AGRICULTURAL STATISTICS

FOREWORD

The Agricultural Indicators System (AIS) is one of the statistical

frameworks maintained by the Bureau of Agricultural Statistics (BAS). It has twelve (12) modules and these are being updated and released annually. This is the first module entitled Agricultural Credit. It provides information on loans for agricultural production granted by private and government institutions. The reference years are 2008 to 2012 The AIS hopes to cover more agricultural development indicators to support the information needs of BAS clientele and stakeholders. Hence, the readers are encouraged to give their comments and suggestions on the improvement of the AIS, in general, and the report, in particular.

The BAS would like to acknowledge the Agricultural Credit Policy Council (ACPC) for providing the basic data on agricultural credit. ROMEO S. RECIDE Director

Quezon City. Philippines June 2013

i

AGRICULTURAL CREDIT

BUREAU OF AGRICULTURAL STATISTICS

TABLE OF CONTENTS

iii 8

Table 5.

Agricultural production loans to output (GVA) ratio, Philippines, 2008-2012(in percent)

COMMODITY 2008 2009 2010 2011 2012

% of Agricultural Production Loans to GVA in Agriculture 15.92 20.26 18.54 18.47 19.77

Agricultural Crops Palay 12.79 14.99 14.81 15.00 14.45 Corn 2.72 3.02 3.53 5.59 6.15 Coconut 7.83 14.86 8.14 5.68 7.95 Sugarcane 27.63 37.33 32.42 20.85 39.32 Rubber 0.58 1.61 0.16 0.29 0.42

Livestock and Poultry 10.92 12.21 11.47 12.61 13.20

Fisheries 3.15 3.67 2.86 2.85 2.85

Forestry 4.36 5.25 12.93 8.15 10.25

FOREWORD i

LIST OF TABLES i i i

AGRICULTURAL CREDIT

Table 1. Share of agricultural production loans in agriculture and total loans, Philippines, 2008-2012 4

Table 2. Percentage distribution of agricultural production loans granted by institution, Philippines, 2008-2012 5

Table 3. Growth rates of agricultural production loans (at current prices) granted by institution, Philippines, 2008-2012 6

Table 4. Percentage share of production loans by commodity in total production loans, Philippines, 2008-2012 7

Table 5. Agricultural production loans to output (GVA) ratio,Philippines, 2008-2012 8

AGRICULTURAL CREDIT

BUREAU OF AGRICULTURAL STATISTICS

6

AGRICULTURAL CREDIT

Table 3.Growth rates of agricultural production loans (at current prices) granted by institution, Philippines, 2008-20112(in percent)

FINANCIAL

INSTITUTION2008 2009 2010 2011 2012

Government Banks 80.08 47.71 -0.95 13.10 19.88 DBP 37.43 337.93 -73.05 -38.89 9.99 LBP 83.14 32.10 11.91 15.33 20.11

Private Banks 0.70 28.51 -3.73 10.70 6.69 PKBs 36.29 44.41 -11.87 11.25 3.94 PDBs 273.57 -13.24 50.61 2.21 2.21 SMBs -69.03 138.76 -3.43 8.62 8.62 SSLAs 158.31 43.86 -15.37 4.07 4.07 RBs 8.37 -10.97 -3.71 18.37 11.34

ALL BANKS 5.85 30.63 -3.38 11.00 8.41

AGRICULTURAL CREDIT

BUREAU OF AGRICULTURAL STATISTICS

1 4

Agricultural Production Loans

Indicators of agricultural credit provide information on credit needs of the

farmers and fishermen in financing their production activities and the

extent of loans provided by the different financial institutions. These are

important statistical information for planners and policy makers to

support the implementation of credit programs and policies geared

towards achieving the development of the agricultural sector.

The agricultural loans granted to farmers in 2012 amounted to P705.11

billion. About 35.1 percent of the agricultural loans or P247.30 billion at

current prices were intended for production purposes. This amount of

production loans was higher by 8.4 percent from the 2011 record. At

constant 2000 prices, production loans surged by 10.1 percent to P138.21

billion in 2012 (Table1).

Among the sources of loans, private

banks continued to release the biggest

amount of production loans. However,

the shares of loans provided by the

private banks were declining over the

five-year period (2008 to 2012). In

2012, their share in total production

loans declined to 85.6 percent. On the

other hand, the specialized government banks

increased their share to 14.4 percent in 2012.

Among the private banks, the Private Commercial

Banks (PKBs) and Rural Banks (RBs) remained as

the biggest providers of credit with their shares of 27.3 percent and 23.8

percent in 2012, respectively. The least source of credit was the Stock

Savings and Loan Associations (SSLAs) which accounted for 7.7 percent of

the total agricultural production loans (Table2).

The volumes of lendings provided by the government and the private

banks were increasing in 2012. Government banks were more active in

their credit extension as the amount of loans in 2012 expanded by 19.88

percent. Specifically, the Land Bank being the biggest financing arm of

Tab

le 1

.Sh

are

of

agri

cult

ura

l pro

du

ctio

n lo

ans

in a

gric

ult

ure

an

d t

ota

l lo

ans,

Ph

ilip

pin

es,

20

08

-20

12

20

00

CU

RR

ENT

PR

ICES

PR

ICES

20

08

48

2.4

73

3.7

20

09

62

8.5

13

3.8

20

10

64

7.4

53

1.7

4

20

11

65

5.7

23

4.8

20

12

70

5.1

13

5.1

SHA

RE

IN

TOTA

L

LOA

NS

(%)

AG

RIC

ULT

UR

AL

LOA

NS

GR

AN

TED

(A

MO

UN

T IN

BIL

LIO

N P

)

YEA

R

SHA

RE

IN

TOTA

L

AG

RIC

ULT

UR

AL

LOA

NS

(%)

TOTA

L

LOA

NS

GR

AN

TED

(A

MO

UN

T IN

BIL

LIO

N P

)

AG

RIC

ULT

UR

AL

PR

OD

UC

TIO

N L

OA

NS

GR

AN

TED

AM

OU

NT

(BIL

LIO

N P

) G

RO

WTH

RA

TE (%

)

CU

RR

ENT

PR

ICES

20

00

PR

ICES

16

2.8

31

06

.46

5.9

-8.0

21

2.7

13

4.4

73

0.6

26

.3

20

5.5

12

2.8

3-3

.4-8

.7

22

8.1

21

25

.57

11

.02

.2

24

7.3

13

8.2

18

.41

0.1

16

2.8

31

06

.46

5.9

-8.0

21

2.7

13

4.4

73

0.6

26

.3

20

5.5

12

2.8

3-3

.4-8

.7

22

8.1

21

25

.57

11

.02

.2

24

7.3

13

8.2

18

.41

0.1

0.9

1.0

0.7

0.7

0.7

18

84

5.8

3

22

03

0.9

5

30

30

3.4

6

33

61

0.7

9

35

85

7.1

2

16

2.8

3

21

2.7

0

20

5.5

0

22

8.1

2

24

7.3

0

AGRICULTURAL CREDIT

BUREAU OF AGRICULTURAL STATISTICS

peso of sugarcane output. The credit support for palay was P0.14 while

for corn, P0.06. Rubber had lower loan assistance with a ratio of 0.13

percent.

Livestock and poultry continued to increase utilization of loans at a ratio

of 13.20 percent in 2012. It was 2.85 percent for fisheries (Table5).

percent. Specifically, the Land Bank being the biggest financing arm of

the government increased their supply of loans by 20.11 percent

compared to last year’s 15.33 percent. Private banks slowed down their

loan releases by 6.69 percent. Rural Banks (RBs) recorded the highest

increase in lendings at 11.34 percent. However, it was lower compared to

the 2011 growth rate of 18.37 percent. The Private Commercial Banks

(PKBs ), likewise, recorded sluggish growth in their credit assistance by

3.94 percent from the previous year’s growth at 11.25 percent (Table 3).

The biggest amount of agricultural

production loans was utilized to finance the

food commodities. In 2012, 38.69 percent

of the production loan were allocated for

food production, of which 16.33 percent

were intended for palay and 14.18

percent for livestock and poultry. Fruits, vegetables and rootcrops

had a credit share of 3.88 percent. Loans to finance the production of

export and commercial commodities comprised 8.29 percent. Of this

share, 4.62 percent went to sugarcane and 2.67 percent to coconut (Table

4).

Ratio of Agricultural Production Loans to GVA in Agriculture

The ratio of production loan to GVA in agriculture is an indicator of loan

to output ratio which measures the portion of the agricultural output that

is absorbed by bank for credit availment. It provides information on the

most and least financed sectors or commodities.

The ratio of production loan to GVA

in agriculture increased to 19.77

percent in 2012. This means that for

every peso value of agricultural

output, P0.19 was financed by bank

loans. Among the crops, sugarcane

was the most financed crop

indicating a ratio of 39.32 percent or

P0.39 of credit assistance for every

3 2

indicating a ratio of 39.32 percent or P0.39 of credit assistance for every

peso of sugarcane output. The credit support for palay was P0.14 while

AGRICULTURAL CREDIT

BUREAU OF AGRICULTURAL STATISTICS

peso of sugarcane output. The credit support for palay was P0.14 while

for corn, P0.06. Rubber had lower loan assistance with a ratio of 0.13

percent.

Livestock and poultry continued to increase utilization of loans at a ratio

of 13.20 percent in 2012. It was 2.85 percent for fisheries (Table5).

percent. Specifically, the Land Bank being the biggest financing arm of

the government increased their supply of loans by 20.11 percent

compared to last year’s 15.33 percent. Private banks slowed down their

loan releases by 6.69 percent. Rural Banks (RBs) recorded the highest

increase in lendings at 11.34 percent. However, it was lower compared to

the 2011 growth rate of 18.37 percent. The Private Commercial Banks

(PKBs ), likewise, recorded sluggish growth in their credit assistance by

3.94 percent from the previous year’s growth at 11.25 percent (Table 3).

The biggest amount of agricultural

production loans was utilized to finance the

food commodities. In 2012, 38.69 percent

of the production loan were allocated for

food production, of which 16.33 percent

were intended for palay and 14.18

percent for livestock and poultry. Fruits, vegetables and rootcrops

had a credit share of 3.88 percent. Loans to finance the production of

export and commercial commodities comprised 8.29 percent. Of this

share, 4.62 percent went to sugarcane and 2.67 percent to coconut (Table

4).

Ratio of Agricultural Production Loans to GVA in Agriculture

The ratio of production loan to GVA in agriculture is an indicator of loan

to output ratio which measures the portion of the agricultural output that

is absorbed by bank for credit availment. It provides information on the

most and least financed sectors or commodities.

The ratio of production loan to GVA

in agriculture increased to 19.77

percent in 2012. This means that for

every peso value of agricultural

output, P0.19 was financed by bank

loans. Among the crops, sugarcane

was the most financed crop

indicating a ratio of 39.32 percent or

P0.39 of credit assistance for every

3 2

indicating a ratio of 39.32 percent or P0.39 of credit assistance for every

peso of sugarcane output. The credit support for palay was P0.14 while

AG

RIC

ULT

UR

AL C

RE

DIT

BU

RE

AU

OF A

GR

ICU

LTU

RA

L ST

AT

IST

ICS

1

4

Agricu

ltural P

rod

uctio

n Lo

ans

Ind

icators o

f agricultu

ral credit p

rovid

e info

rmatio

n o

n cred

it need

s of th

e

farme

rs and

fisherm

en in

finan

cing th

eir pro

du

ction

activities an

d th

e

extent o

f loan

s pro

vided

by th

e differen

t finan

cial institu

tion

s. The

se are

imp

ortan

t statistical

info

rmatio

n

for

plan

ners

and

p

olicy

makers

to

sup

po

rt th

e im

plem

entatio

n

of

credit

pro

grams

and

p

olicie

s geared

tow

ards ach

ievin

g the d

evelo

pm

ent o

f the agricu

ltural secto

r.

The agricu

ltural lo

ans gran

ted

to farm

ers in 2

01

2 am

ou

nted

to P

70

5.1

1

billio

n. A

bo

ut 3

5.1

percen

t of th

e agricultu

ral loan

s or P

24

7.3

0 b

illion

at

curren

t price

s we

re inten

de

d fo

r pro

du

ction

pu

rpo

ses. Th

is amo

un

t of

pro

du

ction

loan

s was h

igher b

y 8.4

percen

t from

the 2

01

1 reco

rd. A

t

con

stant 2

00

0 p

rices, pro

du

ction

loan

s surged

by 1

0.1

percen

t to P

13

8.2

1

billio

n in

20

12

(Table1

).

Am

on

g the so

urce

s of lo

ans, p

rivate

ban

ks con

tinu

ed to

release the b

iggest

amo

un

t of p

rod

uctio

n lo

ans. H

ow

ever,

the sh

ares o

f loan

s pro

vide

d b

y the

private b

anks w

ere declin

ing o

ver the

five-year p

eriod

(2

00

8

to

20

12

). In

20

12

, their sh

are in to

tal pro

du

ction

loan

s declin

ed to

85

.6 p

ercent. O

n th

e

oth

er h

and

, th

e sp

ecialized

go

vernm

ent

ban

ks

increased

th

eir sh

are to

1

4.4

percen

t

in

20

12

.

Am

on

g the p

rivate ban

ks, the P

rivate Co

mm

ercial

Ban

ks (PK

Bs) an

d R

ural B

anks (R

Bs) re

main

ed as

the b

iggest p

rovid

ers of cred

it with

their sh

ares of 2

7.3

pe

rcent an

d 2

3.8

percen

t in 2

01

2, re

spectively. Th

e least so

urce

of cred

it was th

e Stock

Savings an

d Lo

an A

ssociatio

ns (SSLA

s) wh

ich acco

un

ted fo

r 7.7

percen

t of

the to

tal agricultu

ral pro

du

ction

loan

s (Table2

).

The vo

lum

es o

f lend

ings p

rovid

ed b

y the go

vernm

ent an

d th

e private

ban

ks were in

creasing in

20

12

. Go

vernm

ent b

anks w

ere m

ore active in

their cred

it exten

sion

as the am

ou

nt o

f loan

s in 2

01

2 exp

and

ed b

y 19

.88

percen

t. Specifically, th

e Land

Ban

k bein

g the b

iggest finan

cing arm

of

Table 1.Share of agricultural production loans in agriculture and total loans, Philippines, 2008-2012

2000 CURRENT

PRICES PRICES

2008 482.47 33.7

2009 628.51 33.8

2010 647.45 31.74

2011 655.72 34.8

2012 705.11 35.1

SHARE IN

TOTAL

LOANS (%)

AGRICULTURAL

LOANS

GRANTED (AMOUNT IN

BILLION P)

YEAR

SHARE IN

TOTAL

AGRICULTURAL

LOANS (%)

TOTAL

LOANS

GRANTED (AMOUNT IN

BILLION P)

AGRICULTURAL PRODUCTION LOANS

GRANTED

AMOUNT (BILLION P) GROWTH RATE (%)

CURRENT

PRICES

2000

PRICES

162.83 106.46 5.9 -8.0

212.7 134.47 30.6 26.3

205.5 122.83 -3.4 -8.7

228.12 125.57 11.0 2.2

247.3 138.21 8.4 10.1

162.83 106.46 5.9 -8.0

212.7 134.47 30.6 26.3

205.5 122.83 -3.4 -8.7

228.12 125.57 11.0 2.2

247.3 138.21 8.4 10.1

0.9

1.0

0.7

0.7

0.7

18845.83

22030.95

30303.46

33610.79

35857.12

162.83

212.70

205.50

228.12

247.30

AG

RIC

ULT

UR

AL C

RE

DIT

BU

RE

AU

OF A

GR

ICU

LTU

RA

L ST

AT

IST

ICS

5

Table 2.Percentage distribution of agricultural production loans granted by institution, Philippines, 2008-2012

2008 100.0 11.0 89.0 28.2 9.9 10.0 8.9 32.0 162,829.1

2009 100.0 12.5 87.5 31.1 18.2 6.7 9.8 21.7 212,699.9

2010 100.0 12.8 87.2 28.4 18.1 10.4 8.6 21.7 205,503.8

2011 100.0 13.0 87.0 28.5 17.8 9.5 8.1 23.1 228,115.7

2012 100.0 14.4 85.6 27.3 17.8 9.0 7.7 23.8 247,298.8

Private Institutions: Specialized Government Banks include:

PKBs - Private Commercial Banks PNB - Philippine National Bank

SMBs - Savings and Mortgage Banks DBP - Development Bank of the Philippines

PDBs - Private Development Banks LBP - Land Bank of the Philippines

RBs - Rural Banks

SSLAs - Stock Savings and Loan Associations

TOTAL

AGRICULTURAL

PROD'N LOAN (Million P)

YEAR TOTAL

TOTAL

SPECIALIZED

GOVERNMENT

BANKS

TOTAL

PRIVATE

BANKS

PRIVATE BANKS

PKBs SMBs PDBs SSLAs RBs

AGRICULTURAL CREDIT

BUREAU OF AGRICULTURAL STATISTICS

6

AGRICULTURAL CREDIT

Table 3.Growth rates of agricultural production loans (at current prices) granted by institution, Philippines, 2008-20112(in percent)

FINANCIAL

INSTITUTION2008 2009 2010 2011 2012

Government Banks 80.08 47.71 -0.95 13.10 19.88 DBP 37.43 337.93 -73.05 -38.89 9.99 LBP 83.14 32.10 11.91 15.33 20.11

Private Banks 0.70 28.51 -3.73 10.70 6.69 PKBs 36.29 44.41 -11.87 11.25 3.94 PDBs 273.57 -13.24 50.61 2.21 2.21 SMBs -69.03 138.76 -3.43 8.62 8.62 SSLAs 158.31 43.86 -15.37 4.07 4.07 RBs 8.37 -10.97 -3.71 18.37 11.34

ALL BANKS 5.85 30.63 -3.38 11.00 8.41

AGRICULTURAL CREDIT

BUREAU OF AGRICULTURAL STATISTICS

7

Table 4.Percentage share of production loans by commodity in total production loans, Philippines, 2008-2012

ITEM 2008 2009 2010 2011p 2012p

FOOD COMMODITIES 43.71 44.33 37.39 38.33 38.69

Cereals 17.70 16.43 17.02 17.92 18.40 Palay 16.64 15.49 15.95 16.02 16.33 Corn 1.03 0.92 1.04 1.88 2.04 Sorghum 0.01 0.01 0.00 0.02 0.02 Soybean and Other Feedgrains 0.02 0.01 0.03 0.00 0.00

Fruits, Vegetables & Rootcrops 7.95 11.39 3.79 3.83 3.88Livestock and Poultry 14.62 13.42 14.08 14.29 14.18Fisheries 3.44 3.09 2.51 2.29 2.23

EXPORT AND COMMERCIAL 8.86 8.49 8.47 7.32 8.29COMMODITIESAbaca and Other Fibers 0.11 0.04 0.04 0.06 0.06Coconut 3.64 4.26 3.05 2.80 2.67Coffee and Cacao 0.75 0.37 0.38 0.21 0.19Cotton -Rubber 0.05 0.09 0.02 0.04 0.03Sugarcane 4.01 3.40 4.31 3.50 4.62Tobacco 0.28 0.33 0.67 0.72 0.72

FORESTRY 0.10 0.09 0.15 0.14 0.13

OTHERS 18.49 12.49 16.90 18.87 18.38

Sub-Total 71.16 65.40 62.91 64.65 65.49

OTHER SOURCES OF LOANS PDB Loans a/ 10.02 6.65 10.37 9.55 9.00 SMB Loans a/ 9.93 18.16 18.15 17.76 17.79 SSLA Loans a/ 8.89 9.79 8.57 8.04 7.72

TOTAL AGRI PRODN LOAN 100.00 100.00 100.00 100.00 100.00

a/ breakdown of commodity not available

Table 4.Percentage share of production loans by commodity in total production loans, Philippines, 2008-2012

ITEM 2008 2009 2010 2011p 2012p

FOOD COMMODITIES 43.71 44.33 37.39 38.33 38.69

Cereals 17.70 16.43 17.02 17.92 18.40 Palay 16.64 15.49 15.95 16.02 16.33 Corn 1.03 0.92 1.04 1.88 2.04 Sorghum 0.01 0.01 0.00 0.02 0.02 Soybean and Other Feedgrains 0.02 0.01 0.03 0.00 0.00

Fruits, Vegetables & Rootcrops 7.95 11.39 3.79 3.83 3.88Livestock and Poultry 14.62 13.42 14.08 14.29 14.18Fisheries 3.44 3.09 2.51 2.29 2.23

EXPORT AND COMMERCIAL 8.86 8.49 8.47 7.32 8.29COMMODITIESAbaca and Other Fibers 0.11 0.04 0.04 0.06 0.06Coconut 3.64 4.26 3.05 2.80 2.67Coffee and Cacao 0.75 0.37 0.38 0.21 0.19Cotton -Rubber 0.05 0.09 0.02 0.04 0.03Sugarcane 4.01 3.40 4.31 3.50 4.62Tobacco 0.28 0.33 0.67 0.72 0.72

FORESTRY 0.10 0.09 0.15 0.14 0.13

OTHERS 18.49 12.49 16.90 18.87 18.38

Sub-Total 71.16 65.40 62.91 64.65 65.49

OTHER SOURCES OF LOANS PDB Loans a/ 10.02 6.65 10.37 9.55 9.00 SMB Loans a/ 9.93 18.16 18.15 17.76 17.79 SSLA Loans a/ 8.89 9.79 8.57 8.04 7.72

TOTAL AGRI PRODN LOAN 100.00 100.00 100.00 100.00 100.00

a/ breakdown of commodity not available

AGRICULTURAL CREDIT

BUREAU OF AGRICULTURAL STATISTICS

TABLE OF CONTENTS

iii 8

Table 5.

Agricultural production loans to output (GVA) ratio, Philippines, 2008-2012(in percent)

COMMODITY 2008 2009 2010 2011 2012

% of Agricultural Production Loans to GVA in Agriculture 15.92 20.26 18.54 18.47 19.77

Agricultural Crops Palay 12.79 14.99 14.81 15.00 14.45 Corn 2.72 3.02 3.53 5.59 6.15 Coconut 7.83 14.86 8.14 5.68 7.95 Sugarcane 27.63 37.33 32.42 20.85 39.32 Rubber 0.58 1.61 0.16 0.29 0.42

Livestock and Poultry 10.92 12.21 11.47 12.61 13.20

Fisheries 3.15 3.67 2.86 2.85 2.85

Forestry 4.36 5.25 12.93 8.15 10.25

FOREWORD i

LIST OF TABLES i i i

AGRICULTURAL CREDIT

Table 1. Share of agricultural production loans in agriculture and total loans, Philippines, 2008-2012 4

Table 2. Percentage distribution of agricultural production loans granted by institution, Philippines, 2008-2012 5

Table 3. Growth rates of agricultural production loans (at current prices) granted by institution, Philippines, 2008-2012 6

Table 4. Percentage share of production loans by commodity in total production loans, Philippines, 2008-2012 7

Table 5. Agricultural production loans to output (GVA) ratio,Philippines, 2008-2012 8

AGRICULTURAL CREDIT

BUREAU OF AGRICULTURAL STATISTICS 9 23

Modules of the Agricultural Indicators System

1. Agricultural Credit

2. Agricultural Structures and Resources

3. Output and Productivity

4. Food Self-sufficiency and Security

5. Agricultural Exports and Imports

6. Population and Labor Force

7. Food Consumption and Nutrition

8. Gender-based Indicators of Labor and Employment in Agriculture 9. Redistribution of Land

10. Economic Growth

11. Inputs

12. Prices and Marketing of Agricultural Commodities

AGRICULTURAL CREDIT

BUREAU OF AGRICULTURAL STATISTICS

TERMS OF USE Agricultural Indicators System (AIS) Report is a publication of the Bureau of Agricultural Statistics (BAS), Department of Agriculture. The BAS reserves exclusive right to reproduce this publication in whatever form. Should any portion of this publication be included in a report/article, the title of the publication and the BAS should be cited as the source of data. The BAS will not be responsible for any information derived from the processing of data contained in this publication.

ISSN-2012-0435

Please direct technical inquiries to the Office of the Director BUREAU OF AGRICULTURAL STATISTICS Ben-Lor Building, 1184 Quezon Avenue, Quezon City, Philippines 1100 Email : info@bas.gov.ph Website : www.bas.gov.ph

Design and Layout Information and Dissemination Services Section (IDSS)

AGRICULTURAL CREDIT

BUREAU OF AGRICULTURAL STATISTICS

Department of Agriculture

BUREAU OF AGRICULTURAL STATISTICS 1184 Ben-Lor Bldg., Quezon Avenue, Quezon City

Tel. No.: +63(2) 372-3820 Fax. No.: +63(2) 372-3820

info@bas.gov.ph

URL: http://bas.gov.ph

REPORT No. 2013-01

ISSN-2012-0435