Agri growth slows in Q1 —PSA

The Philippine agriculture sector grew at a slower pace in the first quarter of the year, following the decline in the production of crops during the period.

According to data released by the Philippine Statistics Authority (PSA), the agriculture sector grew by 0.67 percent in the first quarter, slower than 1.08-percent growth in the same quarter in 2018.

At current prices, the gross value of agricultural production amounted to P429.7 billion, representing a 3.12-percent reduction from the previous year's level.

This comes as the crops subsector, which accounted for 52.71 percent of the total agricultural output, contracted by 1.01 percent, led by the decline in the production of palay and corn.

In terms of livestock, production posted a 1.25 percent increment and contributed 17.11 percent to total agricultural production, after higher outputs were recorded for cattle, hog, and dairy.

Poultry likewise recorded a 5.41-percent growth during the quarter, accounting for 16.74 percent of the total. This reflected a gross value of P55.4 billion, lower by 3.66 percent from the comparable period.

Fisheries also registered a 0.97-percent increase to contribute 13.45 percent to total production, led by the increments in round scad and skipjack.

With this, prices received by farmers declined by 3.76 percent during the period — lower crop prices at 5.46 percent, livestock at 1.49 percent, and poultry at 8.60 percent. —LDF, GMA News