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Manila Bulletin devider Philippines devider National devider PH's P428-B Q1 agricultural output shows annual growth of 2.1%—PSA report

PH's P428-B Q1 agricultural output shows annual growth of 2.1%—PSA report

Published May 11, 2023 06:36 am
The country’s agricultural output registering at P428.69 billion in the first quarter of 2023 has indicated an annual growth of 2.1 percent, the Philippine Statistics Authority bared. In the report released on Wednesday, May 10, the PSA attributed such to the annual increases in the value of production of crops, livestock, poultry, and fisheries. “The value of production in agriculture and fisheries at constant 2018 prices in the first quarter of 2023 was registered at P428.69 billion, which indicates an annual growth of 2.1 percent. This was due to the annual increases in the value of production of crops, livestock, poultry, and fisheries,” it was disclosed. “Crops, which grew by 1.7 percent, shared P 247.77 billion or 57.8 percent of the total value of production in agriculture and fisheries in the first quarter of 2023. Palay and corn posted increments in the value of production at 5.2 percent and 3.2 percent, respectively,” it went on. The PSA also reported an annual growth of 4.1 percent in livestock production, which contributed P61.66 billion or 14.4 percent of the overall value of agriculture and fisheries production. “In particular, the value of hog production recorded a 5.1 percent improvement,” it noted. In addition, with a production value of P64.95 billion, poultry's contribution to the total value of agriculture and fisheries production was 15.1 percent. “Poultry’s value of production registered a 3.2 percent annual increase. All poultry commodities, except duck, recorded annual growths in their value of production.,” the report stated. Moreover, the value of fisheries production, which grew slightly by 0.3 percent annually, amounted to P54.32 billion or 12.7 percent of the total value of agriculture and fisheries production. “Double-digit expansions were recorded for squid (pusit) at 18.2 percent, tilapia at 10.8 percent, and blue crab (alimasag) at 10.5 percent,” it added. Meanwhile, according to the PSA, at current prices, the value of production in agriculture and fisheries amounted to P569.94 billion, which indicated an annual growth of 14.1 percent.

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