Businessmen urged to invest in biofuel production

MANILA, Philippines – Agriculture Secretary Arthur Yap is encouraging more businessmen to invest in biofuel production because it is going to be in demand both in foreign and national markets.

Yap, who was guest of honor at the formal launching of the first bio-ethanol manufacturing plant of the Leyte Agri Corp. in Barangay Ipil, yesterday said bio-fuel is a sunrise industry not only in the country but also in Asia.

He said Brazil is now 100 percent biofuel sufficient and their biofuel stocks are local. “The country is only 50 percent self-sufficient, that is why this is very critical without other investments,” Yap said.

He said he had been asked many times if biofuel would compete with food stock. His answer was that if all the farmlands were shifted to biofuel production, then the country would experience severe food shortage.

“If they want to expand to biofuel crops they can go to the upland where they could plant cassava, and jatropha. But they should not touch or convert the four million hectares premium lands that the Department of Agriculture (DA) has devoted to the food industry,” Yap said.

He said the DA recognizes the potential of biofuel development so they formed the Philippine Agricultural Development and Commercial Corp. (PAGCC) headed by Maris Agbon, who was also present at the activity.