STATEMENT OF SEC. ARSENIO M. BALISACAN 2014 Q3 NATIONAL INCOME ACCOUNTS PRESS CONFERENCE 27 November 2014 PSA-NSCB Operations Room, Makati...
An increase in coffee consumption in China may prove to be good news for Filipino coffee business.
According to the Philexport, the body which handles exports in the Philippines, the rise in coffee consumption will help increase exports from the country. Philexport cited data which said that China will be consuming over $50 billion worth of coffee in a decade’s time, reports The Rappler.
“While before, its people only drink four cups of coffee a year, China now consumes US$11.1 billion worth of the beans, nine cups of which are imported,” the Beijing office of the Philippine Trade and Investment Center said, according to GMA.
Philippines has only 1 percent of the global coffee market. But, if it manages to increase exports to China significantly, things might change for the better.
According to a report in the GMA, the government is helping farmers increase coffee output by expanding coffee plantations. The expansion will also see to the growing demand for coffee domestically, as well as abroad. The government has given the responsibility of seeing to the expansion, to the National Agri-Business Corporation, the report adds.
Moreover, the Philippines will have a chance to attract more countries to its coffee in the upcoming CAEXPO, a trade fair. The ninth CAEXPO will be held in Nanning, China, from Sept 21.
Philippines Rice Yield to Increase
Philippines is also looking to increase the yield of hybrid rice, to help meet local demand and build a surplus for exports.
The International Rice Research Institute (IRRI) is working on increasing the yield from hybrid rice by 20-25 percent, reports the Business Standard.
“We are looking at a number of approaches to improve the productivity of hybrids in terms of yield. While we initially aimed at increasing the yield by 10-15 per cent, we are now looking at almost doubling it over the next five to 10 years,” said IRRI director-general Robert Zeigler, according to Business Standard.
Philippines is sure of achieving rice self-sufficiency by 2013.