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Minimal growth in Filipino agricultural sector in Q1

The Philippine agriculture sector experienced minimal growth in the first quarter, continuing its expansion trend, according to the Philippine Statistics Authority (PSA). The sector's production value in agriculture and fisheries, measured at constant 2018 prices, saw a slight increase of 0.05% in this period. This follows a 0.9% growth in the final quarter of 2023 and a 2.1% growth in the same quarter of the previous year.

The crop segment, which represents 57.6% of the total production value, witnessed a decrease of 0.3%, with significant declines in sweet potato (-9.0%), cassava (-8.9%), mongo (-6.4%), and banana (-4.5%). Conversely, onion production surged by 28.6%.

Agriculture Secretary Francisco Tiu Laurel Jr. attributed these results to the El Niño phenomenon, highlighting its detrimental effects on crop and fisheries production through reduced rainfall and higher temperatures. Despite the challenges posed by El Niño, which has already inflicted P5.9-billion in damages to the sector, the government remains cautiously optimistic about the agriculture sector's recovery in the upcoming quarter, pending the effectiveness of their interventions.

Source: gmanetwork.com

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