ECONOMY

The Municipality of Panay is predominantly agricultural. It claims 27.25 percent or 3,471.46 hectares of the total municipal land area. Farming is the major livelihood source of the community. According to the Municipal Agricultural Office, 1,583 farmers are currently cultivating 2,056.80 hectares of irrigated lands, while the remaining 853 till1,015.60 hectares of rain fed areas. Palay is the major crop of the municipality, but there are also some minor agricultural crops being cultivated, such as corn, vegetables, banana and root crops. The estimated volume of palay production is 21,521.10 metric tons per year. Because of this, Panay is considered as one of the major rice producing towns in Capiz. There are three cropping seasons for irrigated lands and two for rain fed areas. Cropping season usually starts at the onset of rainy season, which is from the third to last week of May. Factors that contribute to rice suitability farming are even rainfall distribution, favorable soil type and the existing irrigation networks. The major developments that support, the agricultural sector in Panay are technology extension, input support, assistance from the government agency concerned and farm equipment/facilities support. The implementation of the Agriculture and Fishery Modernization Act of 1997 or R.A. 8435 (AFMA) specified three barangays to be areas for Strategic Agriculture and Fisheries Development Zone (SAFDZ). Cabugao Oeste (1.6571 sq. km.) Calapawan (3.3843 sq. km.) and Binantu-an (4.2826 sq.km.) were the three identified sites. This was approved by the Sangguniang Bayan per Resolution No. 22-99 dated July 1999. The demand for rice is estimated at 5,089 metric tons (including buffer stock). The rice surplus of 16,432.1 metric tons of rice is being shipped to Manila, Iloilo, Masbate and Cebu. Within the next ten years the projected demand for rice by the year 2018 will be 5,426 metric tons. Therefore it is safe to assume that there is sufficient supply of rice for both consumption and export.