The Department of Agriculture (DA) revealed over the weekend that investment opportunities still abound in the fruit crops sector, even in so-called mature areas such as the production and processing of mango, coconut and cavendish banana.
But DA undersecretary Mercedita Sombilla stressed additional investments are needed in the segments to boost further the fruit crops sector.
“We need investments in research, post-harvest infrastructure and production technology for all these export products to further improve Filipino farm sectors’ foreign exchange potential. There are excellent capital investment opportunities in cold storage and processing facilities for other fresh and value-added farm products throughout these islands,” Sombilla told reporters during a chance interview last week.
Sombilla said fruit crops with “even more promising investment opportunities” this year include both the production and processing of coconut, mango and cavendish banana.
Among the promising developments that happened in the fruits sector last year include the exports of frozen durian to China, pili nuts to 27 European countries, shallots to Indonesia, fresh dragon fruit to Australia, young coconut to Taiwan and corn seeds to Colombia.
The agency added negotiations were also conducted for the export of papaya and papaya seeds to India, more ports of entry of fresh pineapple to the US and exporting fresh Hass avocado to South Korea.
According to data from the Philippine Statistics Authority, agricultural exports contributed $1.50 billion or 96.8 percent of the total agricultural export revenue.
Among commodity groups, edible fruit and nuts and peel of citrus fruit melons valued at $439.51 million had the largest share of 28.4 percent to the total agricultural exports.
In 2022, agricultural exports total $7.50 billion or 28 percent of the total agricultural trade.
