MANILA, Philippines – The value of production in agriculture and fisheries contracted by 0.3% in the first quarter of 2022, the Philippine Statistics Authority reported on Wednesday, May 11.
The latest figure is an improvement from the 3.4% contraction posted in the first quarter of 2021, but disappoints following the 0.6% growth recorded in the previous quarter.
At current prices, the value of production in agriculture and fisheries amounted to P498.6 billion, 2.1% higher than the previous year’s level.
Crops, which accounted for 58% of the total value of agricultural production, posted a 1.6% drop. Palay and corn posted declines of 1.9% and 0.2%, respectively.
Livestock production dipped by 1%, with hog production decreasing by 1.2%.
Poultry production, however, expanded by 12.3% during the quarter.
Fisheries posted the sharpest decline of 5.8%. Double-digit decreases were recorded in mudcrab or alimango (-24.8%), skipjack (-20.2%), fimbriated sardines (-13.5%), milkfish or bangus (-12.7%), tiger prawn or sugpo (-11.3%), and slipmouth or sapsap (-10%).
The Department of Agriculture is aiming for 2.5% growth in 2022.
Gross domestic product figures for the first quarter will be released on Thursday, May 12. – Rappler.com