October 27, 2003

Philippine Livestock, Poultry Output To Surpass PHP200B

The value of production from the country's livestock and poultry sector is likely to surpass the 200 billion peso ($1=PHP55.34) mark this year, up around 1% from PHP198 billion in 2002, Agriculture Secretary Luis Lorenzo said Monday.

In a statement, Lorenzo said "the positive outlook for the livestock and poultry sector is based on its sustained growth, which through the years had been carrying the agricultural banner by positively offsetting the lackluster performance of the other farm sectors."

Lorenzo said livestock and poultry production increases substantially in the last quarter of the year to meet the traditional upswing in demand for meat products for the Christmas celebrations.

"The PHP200 billion output for the sector is almost certain because in the first half alone, we had already hit PHP99 billion, and with Christmas just around the corner, production is expected to rise even more to meet holiday- related demand," he said.