January 13, 2010

Philippine farm sector likely to post slight growth in 2009

Despite of the back-to-back devastation caused by a spate of typhoons, the agricultural sector in the Philippines is expected to post a slight growth last year.

Agriculture Secretary Arthur Yap said the agriculture sector growth for last year would be in the range of 0.5% to 1.5%.

In 2008, the agriculture sector posted a healthy growth of 4.68%.

Yap said this year's growth is dependent on the budget for the sector and the possible effect on crops of an El Nino occurrence. There are early indications of a possible drought, with water levels in the country's reservoirs already dipping below their normal levels.

Growth figures for the sector are expected at the end of this month or early in February.