How Filipino farmers can compete in Southeast Asia

ABS-CBN News

Posted at Oct 03 2017 05:02 PM

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MANILA - Filipino farmers need mentors, access to capital and markets, as well as millennials to compete with the rest of Southeast Asia, a businessman and entrepreneurship advocate said Tuesday.

The agriculture sector needs to adopt new technologies to raise productivity and catch up with the region, said Joey Concepcion, chairman of the ASEAN Business Advisory Council and Presidential Adviser for Entrepreneurship.

"Many farmers still use traditional seeds, when hybrid seeds is the way to go," Concepcion told ANC's Market Edge with Cathy Yang.

Farmers need mentoring to become entrepreneurs as well as better access to credit, he said.

A younger generation of farmers must also be trained, he said.

"Millennials are not encouraged to get into agriculture, farming, because they don't think there's money in it," he said.

While farming tends to evoke images of impoverished rural workers, the sector has actually produced several millionaire entrepreneurs, he said.

The Philippines will host the ASEAN Agriculture Summit on Oct. 4 in line with the country's ASEAN chairmanship.