Setting up a food establishment can be a good investment for venture seekers indirectly because, as Filipinos, we have a particular penchant for food-from fine dining to on-the-go chow, or even the simple turo-turo. The relatively steady rise in the food manufacturing and establishment can also indicate many things. For one thing, 17.8% of the manufacturing establishments in the country comprises of food establishments (excluding beverages), and the 13% year-on-year growth of the food manufacturing industry last summer may be a good thing for the workforce. This is because as the food establishment industry shares 14.4% in the total distribution of employment in the manufacturing industry. One notable thing is that, at regions IV-A and IV-B have been collating almost 430,000 employees, while Metro Manila has 270,000.
Productivity-wise, the almost Php460B revenues of the industry can be plausibly said to directly affect our economy’s path to improvement. It was the second top grosser (in value of output) last 2005, just Php12.2B short compared to the evenly growing industry of electronic components, with the latter having Php456.4B, and the former Php444.2B; in terms of value added for manufacturing, it is the industry’s top grosser with Php106.4B.
According to Adeliza Ramos and Christmasita Oblepias of BFAD-DOH in their FAO/Who report, food establishments manufacture, process and distribute a diversity of agricultural materials, from fruits and vegetables to fisheries and livestock; the processed ones, like flour, condiments, snacks, beverages and even supplements are also derivative from agriculture. Our fondness for food aside, we cannot discount the kind of importance that the industry has in our economy. Its ties to agriculture, fisheries and livestock may as well be noted, for after all, almost every raw material from food establishments comes from this fundamental sector.
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Posted on November 16th, 2008 under SPOTlight. Tags: BFAD, Food Stalls. Comments: None
