Commerce and Trade

Economic Structure

Opol, which was dominantly an agricultural-based community twenty (20) years ago, is currently emerging as one of the non-agriculture-based or urbanizing areas in the Province of Misamis Oriental.

One of the contributing factors to this shift from purely agricultural to non-agricultural is its proximity to the highly urbanized center of Cagayan de Oro City where low-lying agricultural lands were converted into urban uses, including those agricultural lands located at the fringes of the zoned urban areas to provide opportunities for investors to locate their industries within the municipality, where land, infrastructure utilities, goods and services are readily available and accessible at a cheaper cost.

The presence of commerce and trade activities in the municipality had increase in a significant number which had contributed to a steady growth of the economic development of the municipality. Presently, there are 747 establishments that provide wholesaling and retailing services. There are four public markets in the municipality of Opol, one in Taboc (main market), one in Luyong Bonbon, one in Igpit and one in Barra. Small and medium sized enterprises are sprouting along the areas in coastal barangays including in the mid-land areas. 

 

Commercial

The area used for commercial purposes totaled to 13.08 hectares or equivalent to 0.0669 % of the total land area of Opol. The centers of commerce are the barangays of Barra, Igpit ,and Poblacion with also a few in Taboc, Bonbon, and Luyong Bonbon. The commercial activities continue to grow especially in Barra and Igpit due to the opening of a new national highway which directly links the barangay to the westbound terminal and fish and vegetables landing area of barangay Bulua of Cagayan de Oro City. Other commercial establishments comprise of fuel stations, beaches, automotive shops, refreshment and the like are also sprouting in the areas along the national highway and along the seashore.

 

Industrial

The existing industrial area of the municipality covers a total of 14 hectares or just about 0.0716 % of the total land area. Majority of industries within the municipality of Opol are strategically located in coastal barangay areas perpendicular to the Macajalar Bay.

For the past ten years, the growth of industries within the municipality is very significant with only 9 quasi-commercial-industrial and agri.-based industries operating in 1995. This figure is more than tripled in 2013 with a total of more or less 54 food processing agri.-based and construction-based industries heterogeneously distributed throughout the municipality.

There are 6 types of industrial establishments ranging from micro to medium intensity industries.