MANILA (Bloomberg): Rice and other harvests in the Philippines were damaged earlier this month, when typhoons Kalmaegi and Fung-Wong struck the country within days and left a trail of destruction and deaths.
Total agricultural damage was estimated at 3.7 billion pesos ($62.6 million), according to a report from the Department of Agriculture late Friday. Further losses are expected as assessments continue, the agency said.
More than 19 million tons of rice, corn, and other crops were lost, while about 36,630 hectares (90,515 acres) of farmland and nearly 55,000 farmers were affected, it said.
Farm output growth softened last quarter as typhoons battered the climate-vulnerable nation, where a graft scandal related to billions of pesos worth of flood-control projects has triggered protests and rocked confidence.
The Philippines is impacted by about 20 cyclones a year.
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