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The Philippines is the world's third largest producer of pineapples, producing more than 2.4 million of tonnes in 2015. [50] The Philippines was in the top three banana producing countries in 2010, including India and China. [51] Davao and Mindanao contribute heavily to the total national banana crop. [51]
The sari-sari store offers a place where people can meet. The benches provided in front of the store are usually occupied by local people; some men spend time drinking there while women discuss the latest local news, youths also use the place to hang out and children also rest there in the afternoons after playing and buy soft drinks and snacks.
The economic history of the Philippines is shaped by its colonial past, evolving governance, and integration into the global economy. Prior to Spanish colonization in the 16th century, the islands had a flourishing economy centered around agriculture, fisheries, and trade with neighboring countries like China, Japan, and Southeast Asia.
The National Food Authority was created by President Ferdinand Marcos through Presidential Decree No. 4 dated September 26, 1972, under the name National Grains Authority (NGA) with the mission of promoting the integrated growth and development of the grains industry covering rice, corn, feed grains and other grains like sorghum, mung beans, and peanuts. [1]
Aquaculture has a long history in the archipelago, with wild-caught milkfish being farmed in tidally-fed fish ponds for centuries. Modern aquaculture is carried out in freshwater, brackish water, and seawater throughout the country through a variety of methods. The most prominent farmed commodities are milkfish and tilapia. Tilapia is farmed in ...
A commodities exchange is an exchange where various commodities and derivatives are traded. Most commodity markets across the world trade in agricultural products and other raw materials (like wheat, barley, sugar, maize, cotton, cocoa, coffee, milk products, pork bellies, oil, metals, etc.) and contracts based on them. These contracts can ...
The first evidence of rice found in the Philippines dates to between 2025 BC and 1432 BC. [11] This taro-first model is only indirect evidence in favor of the cultivation of taro before the Austronesian-speaking people arrived in Southeast Asia and for the lateness of wet-rice agriculture in the Philippines and other parts of Island Southeast Asia.
After the United States took control of the Philippines, the United States Congress passed the Philippine Coinage Act of 1903, established the unit of currency to be a theoretical gold peso (not coined) consisting of 12.9 grains of gold 0.900 fine (0.0241875 XAU), equivalent to ₱2,640 as of December 22, 2010. [11]