PH agriculture output shrinks for second quarter in a row
MANILA -The country’s agriculture sector contracted for the second consecutive quarter this year as some commodities registered lower production due to typhoons and higher input costs.
Agriculture production dipped by 0.3 percent in the third quarter compared to the 1.6-percent growth recorded in the same period last year, based on data from the Philippine Statistics Authority (PSA).
The figure was slightly better than the 1.2-percent drop in the April to June period this year.
This brings the overall value of agriculture output to P412.41 billion from P413.62 billion previously.
Rizal Commercial Banking Corp. chief economist Michael Ricafort partially attributed the year-on-year decline to typhoons.
“Higher prices or inflation, especially on various agricultural inputs, also partly weighed on production or output,” Ricafort added, noting higher global crude oil prices affected the sector’s overall performance as well.
Among the subsectors, fisheries incurred the biggest decrease in output at 6.1 percent.
Tugon Kabuhayan convener Asis Perez said the fisheries sector’s underwhelming performance was due to the limited availability of fish fry and fingerlings in the past quarters.
“We’re keeping our fingers crossed that there will be no further decline in production this coming last quarter,” he said.
Crop output tumbled by 0.4 percent although palay and corn, two staple Filipino foods, gained slightly.
Agriculture Undersecretary Leocadio Sebastian said palay output was just a tad higher because of delayed planting amid the late onset of the rainy season.
