BUSINESS
Storm damage pushes agriculture losses to P1.73B
Agricultural losses from the enhanced southwest monsoon and tropical cyclones “Luis,” “Maymay” and “Neneng” have reached P1.73 billion, with more than 50,000 farmers affected as assessments continue across seven regions.
The Department of Agriculture (DA) said the weather systems have damaged 40,954 hectares of agricultural areas and caused an estimated 43,220 metric tons of production losses.
Rice, corn, cassava, high-value crops, fisheries, livestock and poultry were among those affected, along with agricultural and fishery infrastructure, machinery and equipment.
Damage estimates to rise further
The DA said damage estimates are expected to rise as regional field offices continue validating reports from affected communities in the Cordillera Administrative Region, Ilocos Region, Cagayan Valley, Central Luzon, CALABARZON, MIMAROPA and Western Visayas.
To help farmers and fisherfolk recover, the department has made P210.93 million worth of agricultural inputs available, including rice, corn and vegetable seeds.
The National Food Authority has also released 3,631 bags of palay-milled rice to affected local governments in Ilocos, Cagayan Valley, Central Luzon and MIMAROPA.
Indemnification for farmers, fisherfolk prepared
Meanwhile, the Philippine Crop Insurance Corp. has prepared P35.67 million in indemnification for 5,005 insured farmers and fisherfolk affected by the weather disturbances.