Business and Economy
Agriculture output grows 3.95% in 2017
The crops subsector, which accounted for 51.20 percent of the total agricultural output, rose 2.
66 percent in the fourth quarter (Pixabay photo)
MANILA — The agriculture sector grew by 2.20 percent in the fourth quarter of 2017, bringing full-year growth to 3.95 percent, the Philippine Statistics Authority (PSA) reported on Friday.
PSA data showed that at current prices, gross value of agricultural output amounted to PHP500.4 billion, up by 9.27 percent from the previous year’s record.
It attributed output growth during October to December increase in crops, livestock and poultry subsectors.
The crops subsector, which accounted for 51.20 percent of the total agricultural output, rose 2.66 percent in the fourth quarter.
Palay output increased by 4.37 percent while, that of corn declined by 5.73 percent.
Increments were noted in the output of coconut, sugarcane, banana, pineapple, peanut, cassava, sweet potato, eggplant and rubber.
The statistics office said the crop subsector recorded a 6.69-percent growth in production for the whole year of 2017.
The PSA said the livestock subsector, which shared 17.78 percent in the total agricultural output, came up with a 1.84-percent output gain in the fourth quarter of 2017.
Hog production, which was the major source of subsector’s growth, rose by 2.75 percent.
Poultry output expanded by 4.73 percent during the period. It accounted for 15.40 percent of the total agricultural output.
PSA figures also indicated the fisheries subsector recorded a 1.
18-percent reduction in output in the fourth quarter on declines in tiger prawn, round scad and skipjack.
On the average, prices received by farmers rose by 6.91 percent, as all subsectors posted price increments.
On an annual basis, farm-gate prices went up by an average of 4.97 percent in 2017, it added.
