Agri output rises 2.2% in Q4 2017, fails to meet full-year expectation
While failing to meet full-year expectation, the country’s agriculture sector posted a 2.20 percent growth in the fourth quarter of 2017 as improvements in production were noted in the crops, livestock and poultry subsectors, according to Philippine Statistics Authority (PSA).
At current prices, gross value of agricultural production amounted to P500.4 billion, up by 9.27 percent from the previous year’s record.
For the period January to December 2017, the sector’s gross output grew by 3.95 percent, which is way below the Department of Agriculture’s (DA) 5 percent to 6 percent growth target.
The crops subsector particularly recorded a 2.66 percent increase in production in the fourth quarter of 2017. It contributed 51.20 percent to the total agricultural output.
Palay production increased by 4.37 percent while that of corn declined by 5.73 percent. Increments were noted in the production of coconut, sugarcane, banana, pineapple, peanut, cassava, sweet potato, eggplant and rubber. The subsector’s gross earnings amounted to PhP289.3 billion.
This was 7.05 percent higher compared to last year’s level. For the whole year of 2017, the crop subsector recorded a 6.69 percent growth in production.
On the average, prices received by farmers increased by 6.91 percent in the fourth quarter of 2017.
All subsectors registered price increments; crops at 4.28 percent, livestock at 12.33 percent, poultry at 10.01 percent and fisheries at 9.08 percent.
On an annual basis, farmgate prices went up by an average of 4.97 percent in 2017.