AGRICULTURE GROWTH PICKS UP TO 6% IN Q2
AGRICULTURE sector growth accelerated in the second quarter as favorable weather boosted harvests, the government reported on Tuesday. The 6.18 percent expansion for April-June is an improvement from the months of the year.
The result bodes well for second quarter economic growth, data for which will be released on Thursday.
The crops sub-sector, which accounted for 50.75 percent of total agriculture output, expanded by 11.72 percent during the period. The country’s main crops of palay and corn also posted double digit gains of 11.72 percent and 45.97 percent, respectively. Poultry production, with a 16.02 percent share, also grew by 8.36 percent. These offset declines for livestock and fisheries, which with respective shares of 16.38 percent and 16.84 percent fell by 1.38 percent and 2.93 percent. “At current prices, agriculture
grossed P422.36 billion or 11.41 percent higher than the previous year’s gross output in agriculture expanded by 5.71 percent,” Agriculture Secretary Emmanuel Piñol said in a statement.
Piñol noted that in addition to rice and corn, harvests of other crops except coffee, mango, tobacco and abaca had improved.
In gross value terms, crop production amounted to P231.61 billion, a 13.50 percent increase from last year’s level.
Chicken production drove the poultry sub-sector, which in price terms saw a 10.07 percent increase to P55.32 billion.
Livestock, meanwhile, recorded declines in all areas except for dairy. Despite the contraction, the second quarter’s gross receipts of P71.92 billion were 12.48 percent higher year on year.
Output gains with regard to milkfish, tilapia, skipjack and seaweed, meanwhile, failed to offset losses elsewhere in the fisheries sub- sector. Again, its gross of P63.51 billion was 4.4 percent higher compared to last year.
Farmgate prices, the PSA reported, rose by 4.93 percent during the quarter.
“Price increments were recorded in all subsectors; crops at 1.59 percent, livestock at 14.06 percent, poultry at 1.58 percent and fisheries at 7.55 percent. From January to June 2017, prices received by farmers increased by an average of 4.17 percent,” the agency said.