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Performance of Philippine Agriculture

January-December 2014

Agriculture expanded by 1.83 percent in 2014. The sector's growth was contributed by the production increments in the crops, livestock and poultry subsectors. Gross earnings amounted to P1. 6 trillion at current prices or 9.71 percent higher than last year's earnings.

The crops subsector which shared 51.71 percent in total agricultural production grew by 3.25 percent during the year. Production of palay went up by 2.87 percent and that of corn, by 5.33 percent. Notable gains were also recorded for sugarcane, mango, tobacco, cassava and onion. At current prices, the subsector's gross value of output amounted to P933.7 million. This was 14.52 percent more than the 2013 level.

Livestock production increased by 1.02 percent.It contributed 16.10 percent to total agricultural output. All components of the subsector registered output gains in 2014. The subsector's gross value of production amounted to P247.1 billion, at current prices. This indicated a 5.60 percent improvement from last year's earnings.

The poultry subsector inched up by 0.27 percent. It shared 14.54 percent in the total agricultural production. The sources of growth were chicken, duck and duck egg. At current prices, the subsector grossed P189.7 billion which was 7.84 percent higher than previous year's level.

Fisheries production declined by 0.15 percent in 2014. The subsector accounted for 17.65 percent of total agricultural output. Gainers in the subsector were skipjack and yellowfin tuna with 13.84 percent and 8.18 percent output increases, respectively. At current prices, the subsector's gross earnings amounted to P242.0 billion or 1.03 percent lower than last year's record.

On the average, farmgate prices went up by 7.74 percent from last year's quotations. Significant price increases were recorded in the crops subsector at 10.92 percent. The poultry subsector followed with an average price gain of 7.55 percent. In the livestock subsector, prices were quoted 4.54 percent more this year. Meanwhile, the fisheries subsector posted an average price contraction of 0.88 percent.