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- (-) November 2021
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Since the start of COVID-19, Philippine consumers have incorporated more fresh fruit into their diet. Global exports of fresh fruits to the Philippines increased 36 percent to $695 million in 2020 and are forecast to grow five percent in 2021.
The Philippine Bureau of Internal Revenue (BIR) on November 10, 2021 issued Revenue Memorandum Circular No. 112-2021, clarifying that all imported unprocessed fruits and vegetables are exempt from the 12 percent value-added tax.
FY2021 agricultural exports reach record levels.
The Philippines is a regional biotechnology leader, highlighted by its passage in 2021 of Golden Rice for commercial propagation and Bt eggplant for direct use.
On November 4, 2021, the Philippine Department of Agriculture's Bureau of Animal Industry (BAI) and National Meat Inspection Service (NMIS) issued Joint BAI-NMIS Memorandum Circular No. 3.
The Philippines' declining production of lumber and other wood products cannot meet the country’s growing demand for residential, commercial, and public construction projects.
Responding to inflationary pressures, the Philippine government is set to liberalize rice imports by converting Quantitative Restrictions to tariffs.
Ethanol production using sugarcane and molasses in 2018 is expected to increase to 270 million liters (ML) from 235 ML the previous year as aggregate capacity increases.