Limited Losses From Haiyan Mean Small Output Downgrades
BMI View: The impact of November 2013's Typhoon Haiyan on the Philippines' agricultural production is likely to be moderate. We have revised down slightly our 2013/14 forecasts for rice and sugar output and note that coconut oil plantations and fisheries were also severely affected by the storm.
The impact of Typhoon Haiyan, which hit the Philippines in November 2013, on the country's agricultural production is likely to be moderate, as the affected areas - mostly the Eastern Visayas - are not key crop- or livestock-producing areas. Haiyan was one of the worst typhoons on record globally, and according to the latest official estimates it has led to the death of more than 5,500 people, with more than 4mn people displaced.
The Philippines' Department of Agriculture (DA) and the UN Food and Agriculture Organization (FAO) estimate that the damage to the country's agriculture is extensive. The DA stated in December 2013 that total damage resulting from the typhoon is estimated at PHP10.6bn (US$241mn). Of this, total agricultural production losses are projected to reach PHP8.6bn (US$195mn), while damage to agricultural infrastructure is estimated at PHP2.0bn (US$45mn). The FAO in November pegged the damage at US$110mn.
|Visayas A Significant Producer|
|Philippines - Paddy (RHC) & Sugar Cane (LHC) Growing Regions (% of total production, 2012)|