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Thursday, June 10, 2004
Banana production to block econ gloom
By Raquel C. Bagnol
ONE of the measures that would block gloomy economic aspect due to the uncontrollable hike in oil prices is the expansion of the banana industry in the region. This is how Davao Chamber of Commerce and Industry, Inc. (DCCCII) president Sofronio Jucutan viewed it.
"There's no other better place to produce bananas for export than the areas of Central and Southeastern Mindanao, and the government needs to develop this industry more," Jucutan said during Wednesday's edition of the Club 888 forum at the Marco Polo hotel.
He said the development of the banana industry would also lead to the development of satellite business in its immediate vicinity.
"For one hectare of banana plantation, a company needs to hire two men to maintain it so more hectares of banana plantation will mean the employment of more men," Jucutan said.
Expansions in the industry would also mean an increase in satellite business like food stalls, groceries, fertilizer stores, and other business shops selling goods that would cater to the needs of the workers in the plantation and at the same time, these satellite businesses would also generate revenues not only for the owners but for its employees.
Jucutan also said the government has to open up new areas of investment if the gloomy economic aspect is to be battled with.
Jucutan however appealed to the businessmen to look at the reduction of employees only as a last recourse.
"Normally, all businessmen would go to great lengths to cut the cost of production but with the uncontrollable oil price hike, the cost of all commodities also went up but reduction in the number of employees must only be done as a last recourse because the employees are also feeding their families," he said.
Jucutan admitted that the business community is having a difficult time in getting profits following the series of oil price hikes. RCB
(June 10, 2004 issue)
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