November 14, 2003

Philippines Agricultural Production Up 4% From Same Period Last Year
 
Agricultural production, which accounts for a fifth of Philippines' gross domestic product (GDP), grew by 4.32% in the third quarter from the same period in 2002, the Department of Agriculture (DA) reported yesterday.

For the first nine months of the year, farm output expanded by 2.87%, boosted largely by the strong performance in the third quarter.

The DA attributed the 4.32% growth in the third quarter to the marked improvement in the crops subsector which grew by 2.29%, up by only 0.90% growth last year.

"The crops subsector was our driving factor with both palay and corn recording growths during the period, reversing their declines a year ago," Agriculture Secretary Luis P. Lorenzo Jr said.

The other gainers during the period include the livestock subsector which was up 3.17% led by the hog and poultry industries that posted growths of 4.31% and 3.67%, respectively.

The fishery subsector also recorded a 3.37% growth although this was lower that last year's growth of 5.63%.

The El Nino weather disturbance limited the country's farm sector growth to just 2.79% in the first quarter this year compared to the 5.24% expansion posted during the same period in 2002. The second quarter growth was only 1.52%, way off the 3.43% growth during the same period last year.

For the first semester, Philippines' farm sector growth slowed down to just 2.4% in the first semester compared to the 3.22% growth during the same period in 2002.