Agri sector grows 2.32% in Q3, production valued at P382.5B
The country’s agriculture sector grew by 2.32 percent in the third quarter of 2017, which was pushed by the production gains in the crops, livestock and poultry subsectors, according to Philippine Statistics Authority (PSA).
At current prices, gross value of production in agriculture amounted to P382.5 billion during the period, which was 6.27 percent higher than the previous year’s record.
In the first nine months of 2017, agriculture recorded a 4.64 percent growth in output.
On the average, PSA said that prices received by farmers went up by 3.86 percent in the third quarter of 2017.
Price increments were higher in the livestock and fisheries subsectors at 13.84 percent and 7.64 percent, respectively.
In the crops subsector, prices grew by 1.92 percent, while the poultry subsector recorded an average price drop of 7.47 percent.
For the first nine months of 2017, farmgate prices increased by an average of 4.19 percent.
The crops subsector, which shared 46.89 percent in the total agricultural production, particularly expanded by 5.18 percent.
This, as production of palay improved by 14.17 percent but that of corn declined by 2.74 percent.
Output gains were also noted among the major crops such as coconut, sugarcane, banana, pineapple, tobacco, peanut, mongo, cassava, sweet potato, tomato and rubber.
For the third quarter of 2017, the subsector grossed P209.8 billion, up by 7.20 percent from last year’s gross receipts.
For the period January to September, crop production increased by 8.36 percent.