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Performance of Philippine Agriculture

January-June 2014

Agriculture grew by 1.81 percent in the first half of 2014. The expansion in the crops subsector boosted the growth of the sector. Output increments were also noted in the livestock and poultry subsectors. The fisheries subsector, however, posted a decline in production. Agriculture grossed P776.5 billion at current prices which was 11.26 percent higher than last year's gross receipts.

The crops subsector expanded by 3.68 percent. It contributed 52.72 percent to the total agricultural production. Notable output gains were noted for palay at 4.78 percent and corn at 4.70 percent. Improved production performances were also recorded for sugarcane, banana, pineapple, mango and tobacco. At current prices, the subsector’s gross value of output amounted to P443.9 billion, up by 18.31 percent from last year's record.

Production in the livestock subsector increased by 0.94 percent. It shared 15.39 percent to the total agricultural output. Hog and dairy recorded higher output increments during the period. Gross earnings of the subsector amounted to P118.9 billion at current prices. This represented a 6.33 percent increase from its year ago performance.

The poultry subsector came up with a 0.73 percent production increment. It accounted for 14.44 percent of the total agricultural output. Gross value of output amounted to P91.7 billion at current prices or 5.91 percent higher than last year's level.

The fisheries subsector contracted by 1.90 percent during the reference period. The subsector contributed 17.45 percent to the total agricultural production. Better production performance was noted for tilapia and skipjack but production of most other commodities declined during the period. At current prices, the subsector grossed P122.0 billion which represented a 1.84 percent decline from last year's earnings.

On the average, prices received by farmers went up by 9.28 percent this year. Prices in the crops subsector increased by an average of 14.11 percent. The livestock and poultry subsectors recorded average price gains of 5.34 percent and 5.15 percent, respectively. Prices in the fisheries subsector inched up by an average of 0.06 percent this year.