The Future Of Agriculture In PH
Given that the Philippines is mostly composed of lands, agriculture has always been the main source of income and businesses of Filipinos especially those who are in the provinces or less modernized areas. Despite the emerging industries that supersede agriculture, there is still a bright future ahead of us. The agriculture side will still survive in the country if investors, skilled farmers, and knowledgeable contributors like our OFWs will join hands improve this sector in the country. If you’re wondering if investing in agriculture is a good option, here’s the major things that can help you find the answer.
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It Is A High-Risk Investment
You can still invest in agriculture but keep in mind that you will be facing high risks if you push through. Some OFWs invest in farming and agriculture while they are abroad. I have learned from them that the risks include not being able to monitor your investment because you are away from the farm. It’s not like any other investments wherein you will have your account to watch the movement of your money. In agriculture, you take the risk of trusting the farm owners to grow your money and letting them do the work for you. If you are up for this kind of set up and you believe that your money will increase significantly if you chose this investment type, then you can still invest.
It Requires Due Diligence
Before you invest in agriculture, you have to be knowledgeable of some important things like who is the owner of the farm, who are the farmers, are they regularly paying their loans, are they trustworthy enough to manage a huge amount of investment, and so on. Some farmers take advantage of the investments and it is undeniable. Say, for instance, you invested P20,000 and you’ve just heard the news that instead of buying crops and other agriculture-related products, the money was used to celebrate the fiesta in the town. No investor would like that idea. So before you decide on investing in agriculture, make sure to do thorough research about the farms and the people you’re talking to.
The Land Is Ripe But There Is Low Productivity
One of the major reasons why there is a bright future for agriculture in the country is because of the lands we have. The lands in the Philippines are ripe and healthy but only a small portion of agriculture contributes to the GDP. The emerging manufacturing and other modernized services are causing agriculture to go down. Additionally, the lending system to farmers is really complicated since the banks always look for 5-7 years of track record, which is difficult to keep track of. If we don’t move agriculture to other industry, this sector will still be sustainable. Yes, you can still invest in agriculture here in the country but expect that the growth of the industry is not as fast as those of the real estate and manufacturing industry.
