Lando’s Massive Economic Damages Reach P5.9B

Tropical typhoon Lando, with international code name Koppu, which made a landfall in the Philippines on Sunday has caused a massive impact on the country’s economy.

According to the Department of Agriculture, the damage has reached 5.9 billion.

About 277,060 hectares of agricultural lands in the Ilocos, Cagayan Valley, Central Luzon and Cordillera regions were destroyed. An estimated 386,000 metric tons was believed to be the production loss of these regions. Palay was accounted for the biggest production loss of about 360,000 metric tons equivalent to 5.3 billion.

Corn production loss was quite minimal at 5,600 metric tons while other high value crops was estimated at 21,800 metric tons.

Damage on livestock was recorded at 517,000php.

But despite these damages, the prices and supply of goods will not be affected. Trade undersecretary Vic Dimagiba said that there is nothing to worry about for there is sufficient supply of manufactured goods in the areas affected by the typhoon.

Based on the record of the National Risk Reduction and Management Council, other effects of typhoon Lando on businesses are as follows:

  1. On Oct.17, LTFRB RIII and Genesis transport were advised to suspend operation buses and mini buses travelling via baler, Baler Cabanatuan/Baguio routes.
  2. On Oct. 18 LTFRB advised RORO bus operators (Batangas routes) and bus operators for regions 1, 2, 4A and 5 to stop operations due to poor weather.
  3. A total of 1,059 passengers, 45 vessels, 56 motorized bancas were stranded due to rough sea conditions.
  4. A total of 58 flights (56 domestic and 2 international) have been cancelled due to bad weather.

The Philippine Atmospheric Geophysical and Astronomical Services (PAGASA) said that Lando continues to weaken and will become a Low Pressure Area on Saturday and will leave the Philippine Area of Responsibility on Sunday.

BN Philippines
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