The Philippines must spend at least P3.65 billion (€63.2 mln) over the next three years to improve the competitiveness of the banana industry and maintain its stature as the world’s second-top producer of the tropical fruit, according to an industry road map.
Under the Philippine Banana Industry Roadmap 2019-2022, the government must invest at least P1.215 billion (€21 mln) annually to help local producers become competitive against their Latin American and Southeast Asian counterparts. The road map was drawn up by the Department of Agriculture and the banana sector.
The funds will be used to fight pests, particularly Fusarium wilt, roll out international and local marketing campaigns, produce high-quality seedlings and create a reliable industry database. The bulk of the proposed support will go to pest management programs, with interventions to fight Fusarium wilt being the top priority.
The proposed budget will also be used to establish two new entities to assist the sector: the Banana Industry Development Council (BIDC) and the Banana Research Institute (BRI). The road map stipulated that the government must spend a total of P75 million yearly for the creation of the two entities.
