December 11, 2017, 7:47 pm
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1 Philippine Peso = 0.07278 UAE Dirham
1 Philippine Peso = 2.24757 Albanian Lek
1 Philippine Peso = 0.03528 Neth Antilles Guilder
1 Philippine Peso = 0.3421 Argentine Peso
1 Philippine Peso = 0.02639 Australian Dollar
1 Philippine Peso = 0.03528 Aruba Florin
1 Philippine Peso = 0.03964 Barbados Dollar
1 Philippine Peso = 1.63231 Bangladesh Taka
1 Philippine Peso = 0.03302 Bulgarian Lev
1 Philippine Peso = 0.00747 Bahraini Dinar
1 Philippine Peso = 34.69217 Burundi Franc
1 Philippine Peso = 0.01982 Bermuda Dollar
1 Philippine Peso = 0.02679 Brunei Dollar
1 Philippine Peso = 0.13598 Bolivian Boliviano
1 Philippine Peso = 0.06524 Brazilian Real
1 Philippine Peso = 0.01982 Bahamian Dollar
1 Philippine Peso = 1.27948 Bhutan Ngultrum
1 Philippine Peso = 0.20552 Botswana Pula
1 Philippine Peso = 396.82854 Belarus Ruble
1 Philippine Peso = 0.0396 Belize Dollar
1 Philippine Peso = 0.0255 Canadian Dollar
1 Philippine Peso = 0.01967 Swiss Franc
1 Philippine Peso = 12.99108 Chilean Peso
1 Philippine Peso = 0.13122 Chinese Yuan
1 Philippine Peso = 59.62339 Colombian Peso
1 Philippine Peso = 11.156 Costa Rica Colon
1 Philippine Peso = 0.01982 Cuban Peso
1 Philippine Peso = 1.85788 Cape Verde Escudo
1 Philippine Peso = 0.43044 Czech Koruna
1 Philippine Peso = 3.50505 Djibouti Franc
1 Philippine Peso = 0.12534 Danish Krone
1 Philippine Peso = 0.94034 Dominican Peso
1 Philippine Peso = 2.28612 Algerian Dinar
1 Philippine Peso = 0.26346 Estonian Kroon
1 Philippine Peso = 0.35183 Egyptian Pound
1 Philippine Peso = 0.53538 Ethiopian Birr
1 Philippine Peso = 0.01684 Euro
1 Philippine Peso = 0.04147 Fiji Dollar
1 Philippine Peso = 0.01479 Falkland Islands Pound
1 Philippine Peso = 0.01479 British Pound
1 Philippine Peso = 0.08907 Ghanaian Cedi
1 Philippine Peso = 0.93459 Gambian Dalasi
1 Philippine Peso = 178.43409 Guinea Franc
1 Philippine Peso = 0.14546 Guatemala Quetzal
1 Philippine Peso = 4.01804 Guyana Dollar
1 Philippine Peso = 0.1547 Hong Kong Dollar
1 Philippine Peso = 0.46587 Honduras Lempira
1 Philippine Peso = 0.12671 Croatian Kuna
1 Philippine Peso = 1.24044 Haiti Gourde
1 Philippine Peso = 5.28662 Hungarian Forint
1 Philippine Peso = 268.48364 Indonesian Rupiah
1 Philippine Peso = 0.06983 Israeli Shekel
1 Philippine Peso = 1.27788 Indian Rupee
1 Philippine Peso = 23.46878 Iraqi Dinar
1 Philippine Peso = 701.16946 Iran Rial
1 Philippine Peso = 2.06938 Iceland Krona
1 Philippine Peso = 2.47374 Jamaican Dollar
1 Philippine Peso = 0.01402 Jordanian Dinar
1 Philippine Peso = 2.24961 Japanese Yen
1 Philippine Peso = 2.04063 Kenyan Shilling
1 Philippine Peso = 1.38206 Kyrgyzstan Som
1 Philippine Peso = 79.68285 Cambodia Riel
1 Philippine Peso = 8.28543 Comoros Franc
1 Philippine Peso = 17.83944 North Korean Won
1 Philippine Peso = 21.63231 Korean Won
1 Philippine Peso = 0.00598 Kuwaiti Dinar
1 Philippine Peso = 0.01625 Cayman Islands Dollar
1 Philippine Peso = 6.6333 Kazakhstan Tenge
1 Philippine Peso = 164.81665 Lao Kip
1 Philippine Peso = 29.84143 Lebanese Pound
1 Philippine Peso = 3.03469 Sri Lanka Rupee
1 Philippine Peso = 2.47968 Liberian Dollar
1 Philippine Peso = 0.27056 Lesotho Loti
1 Philippine Peso = 0.06043 Lithuanian Lita
1 Philippine Peso = 0.0123 Latvian Lat
1 Philippine Peso = 0.02704 Libyan Dinar
1 Philippine Peso = 0.18759 Moroccan Dirham
1 Philippine Peso = 0.34103 Moldovan Leu
1 Philippine Peso = 1.03171 Macedonian Denar
1 Philippine Peso = 26.9772 Myanmar Kyat
1 Philippine Peso = 48.22597 Mongolian Tugrik
1 Philippine Peso = 0.15934 Macau Pataca
1 Philippine Peso = 6.97721 Mauritania Ougulya
1 Philippine Peso = 0.67096 Mauritius Rupee
1 Philippine Peso = 0.30426 Maldives Rufiyaa
1 Philippine Peso = 14.14153 Malawi Kwacha
1 Philippine Peso = 0.37538 Mexican Peso
1 Philippine Peso = 0.08101 Malaysian Ringgit
1 Philippine Peso = 0.27055 Namibian Dollar
1 Philippine Peso = 7.11596 Nigerian Naira
1 Philippine Peso = 0.60852 Nicaragua Cordoba
1 Philippine Peso = 0.16439 Norwegian Krone
1 Philippine Peso = 2.04432 Nepalese Rupee
1 Philippine Peso = 0.02898 New Zealand Dollar
1 Philippine Peso = 0.00763 Omani Rial
1 Philippine Peso = 0.01982 Panama Balboa
1 Philippine Peso = 0.06409 Peruvian Nuevo Sol
1 Philippine Peso = 0.06435 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.09514 Pakistani Rupee
1 Philippine Peso = 0.07069 Polish Zloty
1 Philippine Peso = 111.87314 Paraguayan Guarani
1 Philippine Peso = 0.07216 Qatar Rial
1 Philippine Peso = 0.07797 Romanian New Leu
1 Philippine Peso = 1.17163 Russian Rouble
1 Philippine Peso = 16.55857 Rwanda Franc
1 Philippine Peso = 0.07433 Saudi Arabian Riyal
1 Philippine Peso = 0.15331 Solomon Islands Dollar
1 Philippine Peso = 0.26983 Seychelles Rupee
1 Philippine Peso = 0.13201 Sudanese Pound
1 Philippine Peso = 0.16747 Swedish Krona
1 Philippine Peso = 0.0268 Singapore Dollar
1 Philippine Peso = 0.0148 St Helena Pound
1 Philippine Peso = 0.44016 Slovak Koruna
1 Philippine Peso = 151.23885 Sierra Leone Leone
1 Philippine Peso = 11.08028 Somali Shilling
1 Philippine Peso = 412.8087 Sao Tome Dobra
1 Philippine Peso = 0.17344 El Salvador Colon
1 Philippine Peso = 10.20773 Syrian Pound
1 Philippine Peso = 0.27056 Swaziland Lilageni
1 Philippine Peso = 0.64618 Thai Baht
1 Philippine Peso = 0.04946 Tunisian Dinar
1 Philippine Peso = 0.04551 Tongan paʻanga
1 Philippine Peso = 0.07598 Turkish Lira
1 Philippine Peso = 0.13358 Trinidad Tobago Dollar
1 Philippine Peso = 0.59489 Taiwan Dollar
1 Philippine Peso = 44.28147 Tanzanian Shilling
1 Philippine Peso = 0.53697 Ukraine Hryvnia
1 Philippine Peso = 71.63528 Ugandan Shilling
1 Philippine Peso = 0.01982 United States Dollar
1 Philippine Peso = 0.57542 Uruguayan New Peso
1 Philippine Peso = 160.35679 Uzbekistan Sum
1 Philippine Peso = 0.19772 Venezuelan Bolivar
1 Philippine Peso = 450.12883 Vietnam Dong
1 Philippine Peso = 2.12071 Vanuatu Vatu
1 Philippine Peso = 0.05137 Samoa Tala
1 Philippine Peso = 11.04004 CFA Franc (BEAC)
1 Philippine Peso = 0.05352 East Caribbean Dollar
1 Philippine Peso = 11.53221 CFA Franc (BCEAO)
1 Philippine Peso = 2.00932 Pacific Franc
1 Philippine Peso = 4.95441 Yemen Riyal
1 Philippine Peso = 0.27055 South African Rand
1 Philippine Peso = 102.86422 Zambian Kwacha
1 Philippine Peso = 7.17344 Zimbabwe dollar

Access to credit to boost agri output

Policy makers said  a drastic change in the local agriculture sector must be undertaken  for the Philippines to be competitive with its Asean neighbors.

 “In the Philippines, despite agriculture being no more than 9 percent of its GDP, the sector accounts for 29 percent of all those employed with that figure jumping to about 70 percent in some provinces in Mindanao, and 30 percent in the Visayas. When we say we want growth and prosperity to be inclusive, this is the sector which we mean to include,” said Arthur Yap, House committee on economic affairs chair.

Yap said  among the issues that must be given attention are  population growth, climate change and the availability of credit and financing.

 “Credit and finance will not just flow to the sector without the correct eco-system in place.  In the Philippines, RA (Republic Act 10000 already mandates that 25 percent of all banks’ loanable funds be set aside for lending to the agriculture sector. Despite that, local banks pay more than $300 million annually in penalties for failing to lend to the farm sector.  In that alone is an analysis to be made why banks would rather pay the penalties than lend to farmers,” Yap said at the Asean Agriculture Summit in Pasay City.

The congressman said  the only way to facilitate more funds from banks and micro-finance institutions into the agricultural sector is by minimizing risks.

He said  bank penalties  also can be tapped to improve  local agriculture.

 “Part of those bank penalties mentioned are deposited with the Landbank of the Philippines into an Agriculture Guarantee Fund Pool, and used to support loans by small scale farmers through the rural bank network. This program which started in 2008 with just P2 billion  has grown into more than P7 billion today and guarantees as much as P16 billion worth of credits and loans,” Yap said.

He noted  the importance of enabling small farm owners leverage their personal assets, equipment, receivables, inventories and other movable properties under a secured transactions framework for farm financing.

 Meanwhile, agricultural think tank, Inang Lupa Movement said  the Philippines should not focus solely on a single crop in order to be at par with other countries’ agriculture sector.

 “The countries that lead in farm exports in Asean also do not rely on just two or three major crops, and this proves that diversification to high-value crops is among the keys to developing a country’s farming sector and agro-industries,” the group’s president, William Dar said in the summit.

Dar said diversification of  high-value crops and other commodities that have export potential  will greatly improve the country’s  productivity.

“USDA (US Department of Agriculture) data show that the total productivity factor of  the Philippine agriculture sector was 1.87 percent from 2001 to 2013, which is a big improvement over the 0.18 percent during the 1980s and 0.53 percent during the 1990s. However, during the 1990s, Malaysia’s total productivity factor was 3.01 percent, 1.88 in the 1990s, and 2.85 from 2001 to 2013. Vietnam’s was 1.17 in the 1980s, 2.33 percent in the 1990s and 2.53 percent from 2001 to 2013,” Dar said.

He said at present, the Philippines imports more food products than it exports which poses the challenge for the government to produce enough to supply the domestic market with more competitively-priced and quality farm products in both raw and processed form.
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