Philippines agri sector grows at slower pace in Q3

The agriculture industry from the Philippines grew at a slower pace during the third quarter of the year, as increases in crop and fisheries production were not enough to offset the losses recorded in livestock and poultry.

According to from the Philippine Statistics Authority (PSA), from July to September, the farm sector’s production grew by a modest 0.7 percent compared to the 2.3 percent growth in the same period in 2019. From January to September, the sector declined by 0.2 percent, coming from a 0.4 percent growth during the same period last year.

At current prices, the value of agricultural production grew by 4.1 percent to P404.6 billion from the previous year’s level of P388.5 billion.

Crop production, in particular, grew by 4.8 percent, contributing 52.7 percent to the total agricultural output. Output increases were recorded for potato, eggplant, mongo, sweet potato, and mango, while lower production was seen in tobacco, calamansi, pineapple, cabbage, banana, onion, coffee, cassava, abaca, coconut, and tomato.

In total, the value of crop production amounted to P211.1 billion, which is 10.8 percent higher compared to previous year’s level.

[ P100 = €1.70 ]

Source: mb.com.ph


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