Fifteen people were killed on Wednesday after a truck plummeted down a ravine in the central Philippines, a rescue official said.

The vehicle was carrying people on their way to a livestock market on Negros island, said Michael Cabugnason, a rescue official from Mabinay municipality.

"Witnesses said the truck went out of control towards the sharp bend of the road," he said, adding the mountainous area near Mabinay was a frequent scene of road accidents.

Of the 17 people onboard, only one passenger and the driver survived.

The driver was found drenched in motor oil in the wreck at the bottom of the ravine at least 50 metres below the road, Cabugnason said. (AFP)