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Published December 15, 2020, 12:06 PM
TACLOBAN CITY – The employment rate in Eastern Visayas in October, 2020, was estimated at 94.7 percent, the second highest among the regions in the country, a report from the Philippine Statistics Authority – Regional Statistical Services Office 8 (PSA-RSSO 8), based here said on Tuesday.
PSA-RSSO 8 Regional Director Wilma Perante said this figure is the highest reported in Eastern Visayas following the COVID-19 pandemic-induced lockdowns in April, 2020, at 85.7 percent, and in July, 2020, at 91.9 percent.
Perante clarified this is 1.1 percentage points lower than the 95.8 percent employment rate during the same period last year.
She said the employment rate is the proportion of employed persons to the total labor force.
However, in some areas, prices still fell to as low as P10.71 per kilogram (/kg).
During the first week of November, the average farmgate price of palay increased to P15.41/kg or by 0.4 percent during the period, from its level of P15.35/kg in the previous week. (MB file, JJ Landingin)
Meanwhile, it declined at an annual rate of 1.3 percent, from its average price of P15.61/kg in the same week of the previous year.
PSA’s weekly farmgate prices of palay report showed that some areas enjoyed prices as high as P20/kg, while the average price settled at P15.41/kg.
Latin American banana growers now exporting to Philippines
The collapse in global banana prices has opened the door for Latin American producers to sell their product in the Philippines, where demand remains strong.
Stephen A. Antig, executive director of the Pilipino Banana Growers and Exporters Association, Inc., said the Philippine market is now a battleground for Latin American growers, who are facing oversupply in their home markets.
The Philippine market has grown in importance due to weak international demand, Antig said, noting that volume exported by association members fell 12.4% year on year in September. Citing data from the Philippine Statistics Authority, he said fresh banana exports fell 14.04% by value in the nine months to September.
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