February 3, 2023

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Agricultural production dips in 2022

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By Luisa Maria Jacinta C. Jocson, Reporter

AGRICULTURAL production shrank by 0.1% in 2022, marking the third straight year of contraction, as crops and fisheries output declined, the Philippine Statistics Authority (PSA) said on Wednesday.

Data from the PSA showed the full-year value of production in agriculture and fisheries declined at a slower pace than the 1.7% contraction in 2021. It also missed the Department of Agriculture’s (DA) 1.2-1.5% full-year growth target.

Farm output has contracted for three years in a row, since the 0.3% growth in 2019.

The PSA attributed the decline to lower production in crops and fisheries, which offset the growth in poultry and livestock.

In the fourth quarter, agricultural production declined by 1%, a reversal of its 0.5% growth in the same period a year ago and the 1.6% growth in the third quarter of 2022.

At current prices, the value of production in agriculture and fisheries amounted to P611.52 billion in the fourth quarter, up 9.4% year on year.

The agriculture sector contributes around a tenth to overall gross domestic product (GDP). Fourth-quarter and full-year 2022 economic data is scheduled to be released today (Jan. 26).

“Agriculture performed better in 2022 than in 2021, although improvement is at a very low rate, because of the opening of the economy by the second half of the year and hence, mobility of people (and) goods and services in agriculture is now less constrained,” former Agriculture Undersecretary Fermin D. Adriano said in a Viber message.

However, fourth-quarter production was affected by recent typhoons that caused billions worth of agricultural damage and elevated input costs such as fertilizer and fuel.

Recent typhoons Karding (international name: Noru) and Paeng (international name: Nalgae) caused agricultural damage worth P3.12 billion and P6.4 billion, respectively.

“We were actually expecting a worse performance,” Federation of Free Farmers national manager Raul Q. Montemayor said in…

Neil

2023-01-25 11:34:07

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