Metro Manila - Severe Tropical Storm Paeng ravaged agriculture lands across eight regions in the couunty, with damage estimated at ₱1.33 billion, the department of agriculture (DA) reported on Monday. (CNN)
This is a significant loss for the country. A lot of agriculture has been destroyed. There would be considerable pressure on banana demand and price volatilities in the future as crop substitutes for the lost crops. Reports stated over 100 human casualties due to this.