Agricultural output slows down in 1st quarter of 2018
MANILA, Philippines – Agricultural output growth slowed down to 1.47% in the first quarter of 2018, according to the latest report of the Philippine Statistics Authority (PSA).
The figure is much lower than the 5.28% recorded in 2017.
The first quarter performance was below the 2.5-3.5% annual farm growth target under the Philippine Development Plan.
At current prices, the gross value of agricultural production amounted to P440 billion ($8.46 billion)*, 8.94% higher than last year's earnings.
The crops subsector also slumped to 1.79%, much lower than the recorded 8.13% in 2017. Palay and corn production helped keep the figures afloat.
The PSA also noted improvements in production among major crops such as coconut, banana, tobacco, pineapple, abaca, peanut, mongo, tomato, eggplant, and rubber.
Livestock also had a slowdown, recording just 2.11% – lower than 2017's 3.24%. However, the gross value of livestock production amounted to P75.5 billion ($1.45 billion), 15.46% higher than the 2017 record.
Poultry expanded to 5.24%,with chicken and egg production contributing to the subsector's performance. Gross earnings for poultry amounted to P57.5 billion ($1.10 billion).
Production in fisheries continued to struggle, declining to -4.61%. Except for skipjack and seaweed, all major species recorded slower production levels.
Agriculture Secretary Emmanuel Piñol said that the decline in fisheries output was expected because fishing season was closed from December 2017 to March 2018. – Rappler.com
*US$1 = P52.03
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