The agriculture sector grew by 1.47 percent year-on-year in the first quarter – the slowest pace seen in two years – due to the slump in the fisheries sector, data from the Philippine Statistics Authority (PSA) showed.
This is 49.5 percent slower than the farm sector’s growth rate last quarter, and represented a drop of 79 percent compared to its performance in the same period last year.
In a text message, Agriculture Secretary Emmanuel Piñol said the agency had expected the fisheries sector to contract in the first quarter “because of the closed fishing season in most fishing grounds all over the country from December to March.”
Nonetheless, the industry was still able to expand by 8.94 percent, earning P444 billion, at current prices. This was despite a reduction in the prices of coconut, rubber, tomato, sugarcane, coffee, and cassava.
The PSA said production gains in the crops, livestock, and poultry sectors of 1.79 percent, 2.11 percent, and 5.24 percent, respectively, were the main growth drivers during the quarter.
The 4.61-percent fall in fish output, however, dragged the farm sector’s overall growth. It contributed 13.36 percent to the industry’s overall output. Except for skipjack and seaweed, all major species hit lower production levels.