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Philippines’ agriculture sector shows modest gains fueled by crops and livestock

The agriculture and fisheries sector in the Philippines experienced a 2.1 percent annual growth in the first quarter of 2023, amounting to P428.69 billion at constant 2018 prices, according to the Philippine Statistics Authority.

This growth was primarily driven by increased production values in crops, livestock, poultry, and fisheries.

Crops played a pivotal role, contributing P247.77 billion or 57.8 percent of the total agriculture and fisheries production value with a growth rate of 1.7 percent.

Notably, palay (rice) and corn saw increments of 5.2 percent and 3.2 percent, respectively.

Livestock production value also witnessed a notable increase of 4.1 percent, contributing P61.66 billion or 14.4 percent to the overall agriculture and fisheries production value. Hog production value recorded a solid improvement of 5.1 percent.

Poultry, with a production value of P64.95 billion, accounted for 15.1 percent of the total value, displaying an annual growth of 3.2 percent. All poultry commodities, except duck, demonstrated positive growth in their production value.

Fisheries production value experienced a slight growth of 0.3 percent annually, reaching P54.32 billion or 12.7 percent of the total agriculture and fisheries production value.

Noteworthy growth rates were seen in squid (pusit) production at 18.2 percent, while tilapia and blue crab (alimasag) recorded double-digit growth rates of 10.8 percent and 10.5 percent, respectively.

In terms of current prices, the total value of agriculture and fisheries production amounted to P569.94 billion, indicating an annual growth of 14.1 percent.

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