Farm output declined for third straight year owing to weak crop and fishery sectors, the Philippine Statistics Authority (PSA) reported on Wednesday, Jan. 25.
Farm output declined for third straight year owing to weak crop and fishery sectors, the Philippine Statistics Authority reported on Wednesday, Jan. 25.showed that the value of production in agriculture and fisheries dropped 0.1 percent in January to December last year. This, however, was slower compared with the 1.7 percent contraction recorded in 2021.
“This was attributed to the reduction in the value of production of crops and fisheries. Meanwhile, expansions in the value of livestock and poultry production were noted this quarter,” PSA said. Livestock, with a 14.3 percent share to the total, grew by 2.5 percent. Hog, the major contributor to the value of livestock production, increased by 3.4 percent.
Fisheries, which contributed 13.8 percent to the total value of production in agriculture and fisheries, posted a 6.6 percent reduction.
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