Agri, fish value production contracts by -0.3% in Q1

Business & Finance

The value of production for agriculture and fisheries contracted by -0.3 percent in the first quarter of 2022, according to the Philippine Statistics Authority (PSA).

The current data released on Wednesday is considered an improvement compared to the same quarter last year, with a recorded drop of -3.4 percent.

In the data, the value of production declined by -5.8 percent for fisheries; -1.6 percent for crops; and -1.0 percent for livestock.

“Double-digit decreases were recorded by: mudcrab (alimango) at -24.8 percent, skipjack (gulyasan) at -20.2 percent, fimbriated sardines (tunsoy) at -13.5 percent, milkfish (bangus) at -12.7 percent, tiger prawn (sugpo) at -11.3 percent, and slipmouth (sapsap) at -10.0 percent,” the PSA said.

However, the poultry production value has grown by 12.3 percent for the said quarter.

“Poultry production expanded by 12.3 percent. It contributed 15.0 percent to the total value of production in agriculture and fisheries. Except for duck, all poultry commodities posted increments in the value of production,” the PSA said.

Agriculture and fisheries production also amounts to PHP498.61 billion, which is higher by 2.1 percent compared to last year.

Source: Philippines News Agency

Leave a Reply