Agri growth accelerates in 2014

MANILA, Philippines - The agriculture sector grew faster, both in terms of production volume and value, in 2014 on significantly faster growth in the crops subsector and production gains in the livestock and poultry subsectors albeit at slower pace, The Philippine Statistics Authority (PSA) reported yesterday.

The farm sector expanded 1.83 percent in 2014 in terms of production volume, faster than the growth of 1.12 percent in 2013.

The agricultural sector grossed P1.6 trillion at current prices, up 9.71 percent.

The crops subsector (comprising 51.71 percent of 2014 farm production), rose 3.25 percent last year, faster than growth of 0.002 percent in the previous year. Production of palay (unhusked rice) rose 2.87 percent while corn production rose 5.33 percent. Gains were also seen in the production of mango, tobacco, cassava and onion. At current prices, the subsector grossed at P933.7 million, higher by 14.52 percent than the 2013 gross subsector earnings.

PSA noted significant increases in palay yield in Cagayan Valley, Central Luzon, Mimaropa, Bicol and the Davao region. Corn production rose due to sustained use of hybrid varieties.

Livestock production (comprising 16.10 percent of the 2014 production) rose 1.02 percent in 2014, slower than production growth of 1.76 percent in 2013. Gross earnings in the livestock subsector, however, rose 5.60 percent to P247.1 billion at current prices from the previous year.

Growth in the subsector was led by production increases in hog and goat production.

The poultry subsector (with a share of 14.54 percent in the total production) grew at a slower rate of 0.27 percent in 2014 against a growth rate of 4.29 percent in 2013. Growth is seen in the production of chicken, duck and duck egg. Gross earnings in the subsector rose 7.84 percent to P187.7 billion from the previous year.

Production in the fisheries subsector (which accounted for 17.65 percent of the total farm output) declined by -0.15 percent in 2014 from a growth rate of 1.24 percent in 2013. Production gains were seen in skipjack and yellowfin tuna but production of milkfish, tilapia, seaweed and tiger prawns fell. At current prices, the subsector grossed at P242 billion, down 1.03 percent from the previous year.

Average farmgate prices in 2014 rose 7.74 percent, faster than the growth rate of 2.50 percent the previous year. Significant increases were seen in the average farmgate prices in the crop subsector at 10.92 percent. Average price gains in the poultry subsector was placed at 7.55 percent. In the livestock subsector, farmgate prices rose 4.54 percent in 2014.