Agriculture plays a vital role as one of the key sectors of the Philippine economy accounting for 23.5% of the country's total labor force in March 2023 thus, making it a crucial source of livelihood for the rural population. However, the extent of its potential is yet to be fully realized. Therefore, it is imperative to address the underlying challenges to increase productivity, create high-quality employment, boost trade and investments, and promote inclusive growth and development—one that benefits smallholder farmers, consumers, businesses, and the public at large.
Today, the sector faces pressure from the highly inflationary market as prices for inputs like fertilizer, feed, and fuel remain elevated leading to increased food prices affecting not only the Philippines but globally as well. While there have been improvements in food inflation at the national level, with data from the Philippine Statistics Authority showing that food inflation further slowed down from 9.5% in March 2023 to 8% in April, it is still relevantly higher than the reported stats of 4% in April 2022.
The ECCP recognizes the vital role that the sector plays in ensuring food and nutrition security as well as the economic growth of the country. It is in this context that the Chamber is hosting this year's installment of its Sustainable Agriculture Forum with the theme, "Agriculture for the Future: Innovating Agri-Food Systems to Accelerate Food Security". Now on its sixth run, the Forum aims to conduct high-level discussions on major issues relating to the competitiveness, sustainability, and productivity of the Philippine agriculture sector. It also aims to identify the gaps and opportunities through topical sessions to address the growing issue of food inflation and achieve the goals of the event.
Join us on 7 September, 9:00 AM to 4:00 PM with key stakeholders as we unpack the current challenges and opportunities of the agriculture sector, as well as the plans and programs of the Marcos administration for one of the key priority sectors of the country.