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Performance of Philippine Agriculture

January-March 2014

Agriculture posted a 0.67 percent output increment in the first three (3) months of 2014. The slowdown in the sector's growth could be traced to the devastating effects of typhoons that hit the country last year. The output increases noted in the crops, livestock and poultry subsectors were negated by the contraction in the fisheries subsector. Gross earnings amounted to P386.7 billion at current prices. This represented a 10.75 percent increase from last year’s gross receipts.

The crops subsector grew by 1.53 percent. It contributed 54.40 percent to the total agricultural production. Production of palay went up by 3.28 percent while that of corn increased by 1.33 percent during the reference period. Significant increases were noted in the production of sugarcane, pineapple, cassava and onion. At current prices, the subsector grossed P225.8 billion or 17.58 percent higher than last year’s record.

Production in the livestock subsector went up by 1.20 percent. The subsector shared 15.44 percent in the total agricultural output. The major source of growth was the hog industry which expanded by 1.25 percent. All other livestock components recorded increases in production. The subsector grossed P57.4 billion at current prices or 5.59 percent more than last year’s level.

The poultry subsector with its 14.46 percent contribution to total agriculture grew by 1.33 percent. Production gains in chicken at 2.50 percent and duck at 0.10 percent helped in sustaining the subsector’s growth. At current prices, the subsector’s gross value of production amounted to P45.7 billion. This indicated a 5.29 percent improvement from last year’s record.

The fisheries subsector contracted by 3.25 percent. The subsector accounted for 15.70 percent of total agricultural production. Reduced production was noted among all species except skipjack which registered a 4.62 percent output increase. The subsector grossed P57.8 billion, down by 2.64 percent from last year’s record.

On the average, prices received by farmers increased by 10.01 percent from last year's quotations. In the crops subsector, prices expanded by an average of 15.81 percent from the 2013 levels. The livestock and poultry subsectors posted average price gains of 4.34 percent and 3.90 percent, respectively. Prices in the fisheries subsector went up by an average of 0.62 percent this year.