Philippines agriculture posts 3.55% growth in 1st qtr

May. 19, 2007

MANILA – The agriculture sector recorded a 3.55 percent growth in production valued at P234.2 billion from January to March this year, or a 4.78 percent increase in gross receipts compared to the same period last year.

In his report to President Gloria Macapagal-Arroyo, Agriculture Secretary Arthur Yap said the fishery subsector proved to be the major gainer during the first quarter with its 8.52 percent production increase.

Yap said the gross value of fisheries output amounted to P43.7 billion, or 10.34 percent higher than last years record.

For the first quarter, Yap said the poultry, livestock and crops subsectors also registered production increases of 2.3 percent, 2.2 percent, and 2.01 percent, respectively.

At current prices, Yap said gross revenues from crop production reached P130 billion, livestock at P39.3 billion, and poultry at P30.3 billion.

On the average, Yap reported that farm gate prices of agricultural commodities posted a 1.19 percent growth during the first three months of 2007.

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