Experts have long been advocating for export diversification to raise the country’s earnings from agricultural goods. For the longest time, the Philippines has been relying on staples such as coconut oil, bananas, and pineapples to prop up its export receipts. Coconut products, including coconut oil, have remained as the top farm export of the Philippines, based on data from the Philippine Statistics Authority (PSA).
The focus on cut flowers or ornamentals is a welcome development as it gives the Philippines an opportunity to diversify its farm exports. For many years, the country has been selling mostly food crops to its trade partners. If the High-Value Crops Development Program is done right and if the next administration sees the value in pursuing the development of the local cut flower industry, the country would have an additional revenue stream.
Citing data from the International Association of Horticultural Producers, the Department of Agriculture noted that the Philippines is among the emerging domestic producers of ornamental plants. The country is considered a net exporter of ornamentals and its major buyers are the United States and Japan.
Read the complete article at businessmirror.com.ph.